New Dow Contract … DJI_ 5Z
16236
Market is confusing and asking one clear question ?
Is dow is trading out of the pattern ( Breakout-out has occurred ) or still within the pattern ?
This is tricky questions and considered the million dollar question , however , I would give you the scenarios .
From Technical point of view , I do see the market has broken and retested that pattern and the downward pressure is the highly probable scenario, however , this is under one condition which is that the Dow Jones is traded below 16200s , Then we will wait a support test @ 16000s ,15500s respectively.
Finally, the lower probable scenario the market to be higher than the pivotal point which we mentioned and to be toward 17200s and 17500s levels !
| Support | Resistence | |
| Level 1 | 16250 | 16800 |
| Level 2 | 15850 | 17250 |
| Level 3 | 15300 | 17500 |
