I am not pleased with DOW’s performance in the last day as it came down from higher levels. Now it may again try to test higher levels but first I want it to stay above 13100 in early days of the coming week. On the other hand if it failed to do that then Dow may test around 12900 level. Unless Dow is coming out of 13000-13200 zones, it is becoming hard to take any concrete decision.
If we follow the recent trend then Dow may drop around 12800 (more than 50% reversal). The chance of further drop will be still there but I will be talking about the future bearish pattern when DOW tests level around 12500.
According to its medium-term bullish pattern Dow is expected to go upside but as I said in past that before proving that bullish pattern we may see little more correction.
NOTE: Please see the disclaimer of this blog.