Dow Inc. managed to hold and respond well within our active Target Zone(s) between $35.93 and $22.83 at the relevant Fibonacci levels. We currently assume that wave (II) in blue has been successfully completed, which leads us to anticipate a rise above the two indicated resistance levels ($55.67 and $71.86). Our zones remain active and could still be used for entering long positions. However, it should be noted that the price range could be tested further, and a completely new low is even possible under our alternative scenario: this wave count outlines a significantly stronger setback with the blue wave alt.(II), which would mean breaking through our dark green-blue Target Zones (probability: 35%).
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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.