Technical Forecast for Dow Jones

Mini Dow retested 15500/525 highs. As stated, the daily chart remains negative so this should offer a very good selling opportunity with a bearish double top pattern expected & this is exactly what we got. We should now continue lower to 15333 then 15285/55. This is good support today but with the daily chart looking increasingly negative we cannot rule out a break lower for 15181 possibly last week’s low at 15143. We have good support from here down to 15090 with a bounce expected here this week if seen.

 

Resistance at 15441 could hold the topside today but above here opens the door to a retest of 15500/525 highs.