Dow Jones Industrial Can Go Lower (Trading Below EMA300)

The DJI is now trading below EMA300, the last time this happened it had a further drop of 11.34%, if the same or a similar scenario repeats (as each time EMA300 is broken on the daily a strong drop follows, with the exceptions when there is an immediate bounce back above EMA300) we can see the Dow Jones go much lower and reach about 22180 or about 1.5% higher.

Previous analysis:

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2015/2016 (Break below EMA300 with a strong bounce)