DJIA which turned from a Bullish Harmonic AB=CD is now approaching the PRZ (28600-28800) of a Bearish Harmonic AB=CD. Like in the bullish instance which coincided with Ichimoku support, here too the expected resistance tallies with an Ichimoku weekly resistance and a falling trend line. View would negate above 28900
DJIA is at the PRZ of a Bullish Harmonic Pattern AB=CD which coincides with the Ichimoku support both weekly as well as daily. Failure to hold 26000 will trigger a medium term correction in it. For now resistance at 26800/27100/27500.
DJIA is at the PRZ of a Bearish Harmonic Butterfly which suggest it could retrace till 27000. Pattern would be negated above 28600 Harmonic Trading Patterns work as reversal signals based on Fibonacci ratios, Butterfly is one such pattern.
DJI closed @ 22645. On the upper side, there is a major demand zone @ 22600-23250. We may see higher levels if it will sustain above this major supply zone.
Dow opened gap down and has corrected up for the day. It now provides a good shorting opportunity once the down trend resumes as shown.