Stelian
Short

DOW Chemical Company pipe top.

BATS:DOW   DOW CHEM CO
175 0 0
Dow chemical formed a pipe top a week ago and during this last trading week, there has been a downward breakout from A. This type of formation is one of the most reliable as it is occurring in a bear market. According to Bulkowski , there is a 41% chance for a pullback to price level A, so this is something to consider as a better entry for a short position compared to now.
The price target is C, where the DOW is expected to drop 3.65 % from last weeks close.
When looking out for pullbacks and placing stop losses, the price volatility for the DOW should be considered!
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