DOW CONTINUES TO FACE RESISTANCE
As per previous analysis Dow had not broken cross resistance as discussed. Today last 3 hrs on 15 min TF Dow is struggling to break lower high trend and uptrend parallel line. Point to take is cover shorts above today's high. Parallel uptrend line (yellow) which had started from 2017 is a long-term uptrend path of Dow. Parallel channels are also path Iindicator of index which trade in all seasons of economy. Index trading above the Parallel is to be taken as expensive and due to sudden change in economic or fundamental activity/news. It latter need to correct. So entering long above the path is not suggested. But for safer side short should be covered. Or hedge should be taken. Trading in option is not easy job. It needs experience and expertise. Next view will be after Dow decides where to be ,above channel or below channel. Also said 0.318 and 0.500 levels are target if Dow holds resistance, that view is open till now.
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