Potentially bearish at daily and weekly before rebounce back. If it continue breaking the support below,we can expect long term bearish. Currently forming daily,weekly and monthly shoulder for Quasimodo head and shoulder
Possible retest to 27,000 ish area . Fib retrace to possible 50% or 61.8; retest of trendline. Descending channel
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View On Dow Jones(23 May 2018)
26,300 to 26,800 regions have been the strong resistant of the recent months.
I am expecting this barrier will BREAK up with the news on the end of the trade war between China and US. 26,000 will be a nice support region.
It should time 27,000 region this time around. Let's see
DYODD, all the best and read the disclaimer too....
Happy monday traders! Lets start this week out by taking a look at the bigger picture.
Left hand count: This count is the one where we do not assume the ending of this rally, but rather we identify small sub corrections in the larger scheme of things and just take the small rallies up. If this is to play out it will not retrace more than the 61.8% that i have...