Within the turquoise B wave, the Dow is currently in a downtrend. We expect this decline to continue to the turquoise target zone between $51.53 and $48.47, where we expect the reversal to occur. If the bulls prevent a decline until then and push the price above the resistance at $56.49, which we consider to be 34% probable, the price would establish the high of the magenta wave alt. a little higher.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.