Last day Dow’s close was better and now it may try little up moves but that will not be too convincing unless it is staying above around 14700 range, in that case it has more chance to drop. In fact if Dow comes down from that level then it may create a short-term bearish pattern which can take Dow towards below 14200 levels. But at this moment it will be better to talk about this bearish pattern only when Dow will be testing ranges below 14400. Even if Dow does not give any upside movements and only show couple of flat days then also there is a good chance to test lower levels.
Dow can negate these bearish environments only by testing upward levels though it is expected to test higher grounds in early to middle days but staying above 14700 ranges will be challenging for it.
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