Dow 30 Jul 23 to Jul 27 Outlook

By News Robot

Lawrence’s Comment

Recap
Pullback to Y-0 and took off immediately. Got the upside target 12900 as mentioned last week. Closed the week at Y+1 and midpoint.

Outlook
So far Dow has failed to move out of the gap range as it gapped down from 12900 and did not fill the gap above before the close of the week. That implies very strong resistance at the 12900 boundary.

As long as B-0 holds, expect the gap above to be filled but no conviction that B+1 will be cleared by next week.

If B-0 fails to act as support, there is nothing underneath to support Dow until 12500-12600 zone. So long side players have to be very careful with swing longs.

Share

  • You must be logged in to comment. Log in