Last week I was suspecting that it will be a hard job for Dow to cross 13320 levels and it gets the initial resistance at around 13000 ranges.
As I said in past that Dow has the multiple options in the downside but unless it is crossing 12400 I am not sure about them. Where as its bounce in the middle of this week from around 12800 level was good. In fact there is a chance that it may cross 13000 levels in coming week but for that it has to maintain around 12800 levels in early to middle days of the coming week. The bullish pattern which I have mentioned in past weeks is still on for Dow but unless it is testing around 13320 levels, I am not sure about it.
If Dow breaks 12800 levels then it may try to test its previous low which is below 12600. But so long it maintains that previous low level; there is a good chance that it may bounce back in later periods of the coming week. In fact in that case Dow will make a short-term positive pattern but that needs time.
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