Dow formed a "Doji" candlestick on Friday as shown below. A "Doji" can be a reversal candlestick but needs confirmation.
On a daily basis, Dow on Friday has punched through the lower support line and went back to touch the resistance line at the close. By next Monday if Dow is unable to complete its reversal pattern, the down trend will be continued. This outcome is one that I have rated as unlikely. However, straightly technical, Dow has broken its short-term support, it should continue to move towards its longer-term support line as has been discussed previously.
Dow formed a "Doji" candlestick on Friday as shown below. A "Doji" can be a reversal candlestick but needs confirmation.
On a daily basis, Dow on Friday has punched through the lower support line and went back to touch the resistance line at the close. By next Monday if Dow is unable to complete its reversal pattern, the down trend will be continued. This outcome is one that I have rated as unlikely. However, straightly technical, Dow has broken its short-term support, it should continue to move towards its longer-term support line as has been discussed previously.
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