Dow Jones

Date : 16.02.2025
Dow Jones
Timeframe : Day chart

Remarks :

1 Formed Double top at recent trend

2 Formed Pennant pattern with support of 20 EMA at base of the flag

3 Had a Breakout from symmetrical Triangle pattern during Impulsive wave

4 Right now at 3-3-5 Flat Corrective Wave

5 As a rule, in Flat 3-3-5 Corrective Wave, if Wave B is equals Wave A forming double top kind of structure then projection of C will be below starting of Wave A as 5-3-5-3-5 Wave formation

6 Keep a close eye on breakdown of Pennant pattern below 20 EMA , Wave C will initiate

Regards,
Ankur