“Dow Jones accelerates lower towards 25000.” by trader FXTM — published November 15, 2018 — TradingView

The Dow Jones seem to be in complete control of bears, since it carved a lower top around 26300 levels earlier. Please note that we had discussed this drop around those levels and that the previous rally could just be a bull trap. Looking at the wave structure, it is quite clear that Dow Jones had dropped in an impulse earlier between 26950 and 24100 levels respectively. Furthermore the drop was followed by a 3 wave corrective rally A-B-C towards 26300 levels. If this structure should hold, we would continue lower towards 23500 and further in the coming trading sessions. Also note that any intraday rallies should remain well capped below 26300 levels.

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This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.

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