Dow Jones Weekly for July 7-11 - Rakesh Chandra

Dow Jones is highly oversold on the weekly scale. It is currently in the 5th wave down. On a daily scale too, it is completing an extended W3. Overall, Dow has to pull back technically in the near term, hence I advise buying Dow futures.

All targets are valid until July 11.

Upwave (4-5) WUT3: 11,510;
Upwave (2-3) WUT2: 11,440;
Upwave (0-1) WUT1: 11,325.

Price is bullish above weekly pivot point of 11,254.80;
Price is bearish below weekly pivot point of 11,211,20.

Down wave (0-1) WLT1: 11,141;
Down wave (2-3) WLT2: 11,026;
Down wave (4-5) WLT3: 10,956.