Previously it was bearish view on DOW, but after break out of resistance and continuously trading above resistance line. Dow completed h & s pattern, traded above neck line and again break down neck line force to keep bearish view on DOW. But on 27th June Dow took support of 20 dema which crossed 50 dema on same day forced to change view from bearish to bullish.
After looking previous pattern Dow traded it seems that adow may complete shark pattern, which target is placed at 35 k. Confirmation will come when Dow starts trading above neck line which is placed at 34200.
Next week data will affect Dow performance. If. Data is in favour of market then Dow will break neck line and continue its journey to 35 k. If data is negative then Dow may retrace below support line . If it happen then Dow can come up to 32 k.
After looking previous pattern Dow traded it seems that adow may complete shark pattern, which target is placed at 35 k. Confirmation will come when Dow starts trading above neck line which is placed at 34200.
Next week data will affect Dow performance. If. Data is in favour of market then Dow will break neck line and continue its journey to 35 k. If data is negative then Dow may retrace below support line . If it happen then Dow can come up to 32 k.
