The Dow Jones started to recover and climbs since 23rd March, forming a 1-month rising wedge in the process.
Last week, the price finally broke below the rising wedge and created a lower low.
However, the price took a pause quickly and fell into a consolidation.
The price retraced throughout the last half of the week, seemingly forming a retracement channel too.
This week, the price may resume falling again as soon as the week starts or it may pull back a little further towards 24100 first.
We expect the price to fall and reach 22400, and if the rebound is weak, the price may fall even faster and reach beyond 21000.
Last week, the price finally broke below the rising wedge and created a lower low.
However, the price took a pause quickly and fell into a consolidation.
The price retraced throughout the last half of the week, seemingly forming a retracement channel too.
This week, the price may resume falling again as soon as the week starts or it may pull back a little further towards 24100 first.
We expect the price to fall and reach 22400, and if the rebound is weak, the price may fall even faster and reach beyond 21000.
Comment:
Watch out! Price gonna break higher. Wait for retest at 24400.
