DJI Wave Analysis

17 May 2021

Here is my wave count using fib levels for the DJI (DIA). Note the candle wick making a perfect touch of 1.786 fib. I think that this week could be another down week looking to form the wave 4 of this uptrend. I marked some key support areas on the chart. If this does turn out to be a wave 4, the rule is that they rarely exceed 30% pull back of wave 3. I have also marked that on the chart.



4h


2h



Hope it helps.

17 May 2021

Not

Whole lot of nothing today. Just resting on top of the rising wedge feeling out the market.