Attached here with two charts-One hour and 15 Min charts. The purpose of the 15 min chart is to show you the zoomed view.
Now see the hourly chart. It broke out of the “Broadening Formation”.
Now we will see the 15 Min chart. You can see that the breakout candlestick is engulfed in the next 15 min. See box A.
This breakout sent DOW to rally quickly, but now shying-off after the said Engulfing in Euro.
DOW anyways has a resistance at 10175. Day’s high is close to that level.
Now what we have to see it does Euro has the guts to go above the breakout candle? If not; we might see DOW; along with Euro completely wipe out the early gains and making a record making fall in the near term.
On the other hand, if Euro succeeds to go above the breakout candle, then we might see DOW making record rally in the near term
Which record we will see when we wake up tomorrow? It will be an interesting night.
Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.
