If Dow fails to move higher than its February 18 closing price of 12,391 and instead if it drops below its recent low of 12,068, it is possible that Dow has started its mega wave C as shown above.
However, if Dow can break the 12,391 level, Dow is likely to form its wave 7, 8 and 9 as shown below, another 4% to go to reach 12,750 before starting its mega wave C.
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