Dow Jones story continues to unfold as discussed yesterday as the indice drops around 400 pints from 25800 levels. We again present the probable wave counts for hourly chart which could be suggesting that Dow is unfolding its lower degree wave v at this point in time. If the above counts hold true, we could see prices dropping lower towards 24500 levels at least. Please also note that the next support in line is at 24000 odd levels, and it would not come as a surprise if bears drag prices lower towards the same. Overall, the short term story remains bearish with potential target at 24500 levels.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.