In this technical blog we’re going to take a quick look at the past Elliott Wave charts of YM #F (Dow Jones DJI Mini Futures) published in members area of www.elliottwave-forecast.com. We’re going to take a look at the price structure and explain Elliott Wave forecast. As our members know , we were pointing out that DJI is trading within larger bullish trend in the Weekly cycle from the 2016 low. We advised our members to avoid selling it, keep favoring the long side as as the mentioned cycle from the January 2016 low is still alive.
Let’s take a look at the previous short term Elliott Wave forecasts.
DJI 1 hour Weekend update 11.18. 2017
As we can see on the charts bellow we were calling correction from the 11/7 peak ( 23556) completed at the 23203 low. Currently DJI is doing short term pull back against the mentioned low that is labeled as wave ((x)). Proposed pull back is unfolding as Double Three structure (w)(x)(y) , when it’s having incomplete structure, missing another short term leg lower. We expect it to reach 23256-23225 area ideally before buyers appear for proposed rally. Once short term pull back ((x)) completes, we expect further rally to make new all-time high.
DJI 1 hour London update 11.22. 2017
Short term pull back reached propsoed technical area at 23256-23225 .Buyers were strong enough to break above previous peak. Currently at short term tech zone : 23560-23660 where buyers will be taking profits, hence we can see short term pull back from there.
We have removed some lables on the chart below, in order to protect clients’ privileges. If you’re interested in new Elliott Wave forecasts of DJI you can find them in the membership area of EWF.
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