Dow Jones Completing An A-B-C Flat ?

17 Agu 2018

The daily chart view for Dow Jones Industrial Average is suggesting that the indice might be completing an A-B-C flat correction (labelled here as (2) or (B)). Looking at the entire wave structure since early 2018, the Dow Jones had dropped in an impulse wave from sub 27000 through 23000 levels, labelled as wave (1) or (A) here. The subsequent complex corrective wave structure looks like a potential A-B-C flat that probably terminated at 25690/95 levels around August 07, 2018. For the proposed wave structure to hold true, prices should remain below 25695 levels going forward. As an alternate count, prices could test 27000 levels, before completing the corrective rally and reversing lower. It remains probable for the bears to take control if prices fail to sustain above 27000 mark.

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