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.
NOTE: Please
see the disclaimer of this blog.
