Finally a sign for a stop to a bullish Dow that seems to have taken ages.
The price finally gave a clear break below of the rising structure on a Thursday.
However, the fall was pulled back strongly on a Friday night which is believed due to large profit takings.
Although this is not a major reversal, it does give the Dow a higher probability of depreciation in the short-term trend.
Wait for the price to pull back further till and look for reversal signal at the supply zone between 25800 to 25900.
The price finally gave a clear break below of the rising structure on a Thursday.
However, the fall was pulled back strongly on a Friday night which is believed due to large profit takings.
Although this is not a major reversal, it does give the Dow a higher probability of depreciation in the short-term trend.
Wait for the price to pull back further till and look for reversal signal at the supply zone between 25800 to 25900.