Dow Jones Industrial Average created a strong support in the 11,700 area, at the 50% retracement level and the highs of early September.
The end of wave 2 could be translated toward newer highs as the corrective pattern could develop in a complex manner (two linked corrections). If this will be the case, I expect a lower degree slope of the probable next swing up.
However, if the current support area will be broken, we will look for further bearish action, aiming for the early October lows, in the 10,500 area.
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