The Dow Jones is on the lows of the bullish fork that contained its movement since February 2016. The weekly chart indicates a lot of weakness.
In the last three years a long red candle has always been followed by an equally profound fall in the following two weeks. (August 2015 - January 2016 - January 2018). There are chances that the downside is not over.
There will not be a bullish reversal until it closes the week above the moving average 7 (blue line). Rebounds are possible but we do not believe in strong upward movements.
Possible falls to 24572 - 24282 - 23924. Possible rebounds at 25220 and MM7 weekly.
In the last three years a long red candle has always been followed by an equally profound fall in the following two weeks. (August 2015 - January 2016 - January 2018). There are chances that the downside is not over.
There will not be a bullish reversal until it closes the week above the moving average 7 (blue line). Rebounds are possible but we do not believe in strong upward movements.
Possible falls to 24572 - 24282 - 23924. Possible rebounds at 25220 and MM7 weekly.