Dow Jones Weekly Targets (May 12-17) - Rakesh Chandra

Dow Jones on the hourly charts has completed a 5th down wave cycle. There is a good chance to upside, if it trades above the weekly bullish level .on EOD this upmove will lead the Dow to the upper channel line.

The current targets are valid for this week only.

Price is bullish above weekly pivot point 12,770.66.
Upwave (4-5) UT3: 13,071
Upwave (2-3) UT2: 12,988
Upwave (0-1) UT1: 12,854 (target achived)

Price is bearish below weekly pivot point 12719.34.

Down wave (0-1) LT1: 12,636
Down Wave (2-3) LT2: 12,502
Down Wave (4-5) LT3: 12,419