A very interesting wave might be unfolding in #DJIA.
The main assumption – the last wave up was corrective for several reasons: wave marked (a) off Sep 30th low is not motive; there is no wave iv and the length of (c) is precisely 1.618 of (a), the most typical ratio for the corrective waves.
Wave marked “i” fits into a diagonal. If we apply the most typical Fibs for expected waves iii and iv, we should be looking for DJIA to retrace to $33000-33700 area in the next few weeks. Green rectangle marks the targets on the chart.
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