Dow Jones Industrial Average recently corrected down – in line with our previous forecast for this index. The latest downward correction stopped close to the correction target set in our previous report for this instrument – 1920.00.
The index then reversed up sharply from 38.2% Fibonacci Correction of the preceding intermediate impulse wave (3) from April – thereby completing the latest intermediate corrective wave (4).The last Friday’s closing price stands near the resistance level 16700.00. If the index breaks above 16700.00 – it can be expected to rise further to the next buy target at 16800.00.
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