FxWirePro: DOW JONES forms Bearish Gartley Pattern, good to sell on rallies
Harmonic Pattern – Bearish Gartley pattern. Potential Reversal Zone (PRZ) – 18420. The index reversed sharply from the low made on 18059. It is currently trading at 18237. On the higher side, minor resistance is around 1…
The index reversed sharply from the low made on 18059. It is currently trading at 18237.
On the higher side, minor resistance is around 18310 and any break above that level will take the index to next immediate resistance around 18410/18545 in the short term.
The minor support is around 18209 (100- 4H MA) and any break below will drag the index down till 18150 (21- 4H MA)/18060 (Oct 17th low).
It is good to sell on rallies around 18310 with SL around 18420 for the TP of 18060
