Dow Jones – Trying to Base, Formed Tailed Pin Bar Rejection
Today the DJ 30 formed a tailed pin bar rejection, showing some intra-day buying interest off the 16345 support level. If this holds, then we could see a bounce to 16565 and 17025 before sellers re-enter. For now, the medium term bias is bearish, so look to sell on weak rallies as another leg of impulsive price action selling could gun for the 16K level.
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