Well no surprises there on the US markets. As mentioned 24 hours ago, last night's fall was set up in the previous session.
The DJIA has now formed a bear flag/pennant.
Using a measured move of the height of the flagpole, it gives a downside target of circa 14115
Now normally, one would have to take measured move targets with a flexible view.
However, in this case, 14115 is a key support level - being the 2007 high.
Should circa 15800 channel support not hold, I would expect 14115 to be met rather rapidly.
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Well no surprises there on the US markets. As mentioned 24 hours...
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