I was expecting that DOW may show little more corrections but it hardly went below 13000. Now it is again testing 13300 and that makes it better from some of its peers because they are struggling to test their recent highs where Dow is easily testing 13300.
In coming days it can try to trigger the medium term bullish pattern by breaking 13300 but that is a big hurdle for Dow. Unless it is showing concrete proofs of breaking 13300 I am not confident about a new trend. On the other side considering its last day close and over-sold position it may face small correction but that may not be more than 13100-13200.
Dow is in a zone where from it can correct, if we follow the recent trends 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.
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