SInce the price broke above the breakout pattern, the price has been moving on a strong but unsustainable inclination trend.
Yes, it will most likely hit the initial target 37,242 as we're almost there.
But, we also need to consider that in the next three weeks, we could have some consolidation range.
This doesn't mean, we should expect a crash afterwards....
Raising inclination trend has confirmed on the Dow Jones.
What this means is that the rising trend is going up at a higher degree.
A normal trend is around 45 degrees. A stronger trend is 60 degrees. and once it starts rallying above 60 degrees this is where GREED kicks in and you should prepare for downside.
Also there is a strong Rising Channel which I'm...
If dowjones manages to stay above 32570 tonight then it may touch 33300 & 34300.
32570 happens to be previous swing low & thats only hope for dowjones tonight.
Traders can buy Dowjones or it components with strict stoploss of 32550 with above mentioned targets.
after following up with the expanding triangle on the weekly chart, we can see a clear five waves up on this final wave on the Dowjones.
the current price is suggesting a near end of the fifth and final wave of the whole impulsive wave.
usually wave five can be equal legs with wave 1 or extended wave, as you can see in the above analysis the black lines near wave...
