After the corona issue became the US national concern, yesterday #INDU broke out the bearish level of 22,172.53 (-25% from its all time high). Today the CME (Chicago Mercantile Exchange) is closed on Friday 13th. This action is a precaution to reduce large gatherings on the CME trading floor. Usually, next day the Dow opens with a strong bearish bias. As we can see from the daily chart, #INDU will try to reach the Weekly Sell Side Liquidity Pool at 20,380. Amid the fast-spreading coronavirus, this Liquidity Pool will be removed soon as long the Dow does not retrace to up more then 25,017.72.
The overall bias of #INDU is bearish.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com