Dow Jones $DJIA may have resumed higher

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Short Term Elliottwave structure suggests that dip to 17331.07 ended wave (4). Rally from there is unfolding as a double three where wave ((w)) ended at 17891.6 and wave ((x)) ended at 17660.87. Internal of wave ((y)) is unfolding as a zigzag where wave (a) ended at 18003 and wave (b) is proposed complete at 17915.

A break above irregular wave b at 18016 high now will give confirmation that Index has resumed higher. If the Index breaks below ave (b) at 17915, then Index is doing a double correction in wave (b). While the Index stays above 17915, and more importantly above wave ((x)) at 17660.87, favor more upside in the Index towards 18222 – 18354. We don’t like selling the Index.

Dollar and Yen Up, Euro and Sterling Under Pressure
News Source: http://www.fxstreet.com/

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