Almost all major pairs, commodities
and leading indexes opened the trading session with a nice gap. During the last
trading hours, all gaps are being close one after another. The million dollar
question now is where the market is heading after closing the gap. The index
which delivered the best bearish signal was the Dow Jones, that’s why it is
recommended to follow it to get some clues and hopefully spill some light. The Dow
traded with a clear bearish divergence on the monthly chart. The index broke
the critical support at 12700 points, and the brake triggered a strong down
move. This level is now expected to become a resistance area and a clear evidence
to that was delivered today. The fact that upper BB is at 12765 and 61.8% Fibonacci
retracement is at 12785 will add additional pressure. Therefore, the Dow is
highly expected to close the gap and to reach 12580.
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