DOW JONESDJIA 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.
Djiaoutlook
WILL DOW CHANGE ITS UPWARD TREND TODAY !!!COMPARING MY LAST STATEMENTS WITH THE ACTUAL MOVE ON 18-5-20
1. In point no3. of previous post regarding movement of dow I talked about down side movement from monday onwards. In point no.4. I gave the condition of positional short trade if it gets fullfilled only shorts can be initated . But unfourtunately it did not complete my condition of taking short. Therefore, no trade can be executed on short side on monday trading session. As you can see in fig. that dow open gap up exactly on the upper end of red dotted band of zone. I also mentioned If swing high is breached then shorts sentiments will convert into longs. You can see that with such bullish sentiments dow could not breach Z point swing high.
2. Therefore , chances of going down are still present. If on opening gap up from that point then long will prevail. On the other hand if gap down open then one should wait for dow to short breaching dotted red zone lower band.
3. What I feel is dow tested upper swing to give flase bullish impression. That would be confrimed in fist trading hour. Rest market will decide.
YOGESH VATS
