I was expecting DOW to test 13400 level but it did less. Looks like DOW makes a short-term bearish pattern which says that it can drop more in coming days, may be around 12800 level. Since DOW is not too much over-bought position, so I will not be expecting worst case scenario level at 11600.
Now if it drops in the early days of the week therefore we can expect a reversal at later stage. Here I must say that last day’s close was better, so if any good news comes (but Friday’s jobs report is not showing any better picture) then it may not react on its short-term bearish pattern, therefore we can expect it to test level above 13150 in early days of the week and then its resistance is at around 13300 level.
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