US30(DOW30) may show some reaction near upper channel zone as shown in the chart
I haven't delibertely labelled few wave counts...will update with wave counts as I get more clarity....
Short term investors should be careful here @ this junture....
on 1D time frame you can see :-
1. strong rejection of lower price near 50EMA
2. in the previous fall it did not tested the support ( green line)
3. RSI near 30-40 range
all these suggests that this fall was inevitable
in 1Hr time frame you can see a channel (dark blue lines) where its trying to break but fails every time
it is consolidating and...
All governments globally have been generous in providing decent amount of stimulus to their respective countries as compared to their GDP's. What makes me wonder is that even after such huge amount of stimulus many countries have shown flat GDP growth or economic contraction. What if these stimulus were not provided at first place? The economies and the global...
The daily is turning up against the March lows at 18178. The 4 hour right side is up against the 6/15/2020 lows at 24430. The 1 hour is turning up against 26394. While it shows it will remain above there the index can extend higher toward 30500 in the cycle up from the March lows.
Good luck !