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Dow Jones – Sell Trade at Key Level Profits | Oct 13
Dow Jones – Pullback Level Leads to Heavy Sell-Off
Yesterday in the weekly members commentary, we talked about the key level at 16600. As you can see from the 4hr chart below, the markets pulled back today to this role reversal level perfectly, and then sold off heavily over +300 points, so those of you who traded it would be in a nice profit now.
The short term resistance is now around 16425, but a corrective pullback into 16600 would be potentially another selling opportunity. The trend is short term bearish so we are looking to sell on weak rallies until we get a strong daily close above 16800.
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