Understanding the trend of DJIA with application of Elliott wave and technical analysis.
In below chart we can see that
ignoring the Trumps speech prices have continued to move in a range and
movement has narrowed further. During such times Bollinger Bands works well to
identify resistance and support area. This clearly shows that close above 20000
is required to continue the up move whereas move below 19750-700 zone can
result into selling pressure and complete the minute wave c of Zigzag
DJIA 60 mins chart: