Recap News shock. Forced the week to open from Y-1. That turned Y-0 into resistance and target of Y-2 was reached by the end of the week.
Outlook The overall price action was not bearish at all. Given the context of the huge rally Dow got several weeks ago. It can simply be buying time here to resolve the slightly overbought condition. Posing to go much higher once trading aboe B-0 and that it turns into support zone.
Dow 30 Jul 18 to Jul 22 Outlook
Lawrence’s Comment
News shock. Forced the week to open from Y-1. That turned Y-0 into resistance and target of Y-2 was reached by the end of the week.
Outlook
The overall price action was not bearish at all. Given the context of the huge rally Dow got several weeks ago. It can simply be buying time here to resolve the slightly overbought condition.
Posing to go much higher once trading aboe B-0 and that it turns into support zone.
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