Dow has managed to move above the support line again. The next thing to watch is whether Dow can break the upper trend line. If Dow can break the upper trend line, a possible wave count is as shown below. Trading volume is expected to improve, sub-wave iii of wave 3 should be dynamic, with high volume and unmistakable.
However, if Dow is unable to break the upper trend line and volume remains low, possible wave count is as shown below. On completion of wave 5, a higher degree major wave (IV) correction will follow.
Dow has managed to move above the support line again. The next thing to watch is whether Dow can break the upper trend line. If Dow can break the upper trend line, a possible wave count is as shown below. Trading volume is expected to improve, sub-wave iii of wave 3 should be dynamic, with high volume and unmistakable.
However, if Dow is unable to break the upper trend line and volume remains low, possible wave count is as shown below. On completion of wave 5, a higher degree major wave (IV) correction will follow.
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