The Dow took a tumble yesterday, with what looks like a wave 3 in there. This suggests there is more to come and a break of the support line at 16867, will likely complete 5 waves down and then a fight back to retest the top. For now, the rsi line and the 4hr wave are holding a bullish formation, but a slide below 16867 may put that to the test and the daily wave near 15564 would be a good target. There is certainly plenty of room in the momentum study and the 60minute wave to the right is clearly bearish for now.
No comments:
Post a Comment