Dow Jones (US30) enters consolidation; Trading close to the 50K US Wall St 30OANDA:US30USDIanColemanThe Dow Jones (US30) has entered a period of consolidation. The Wyckoff theory suggest this is a period of distribution. It also dictates that we should see a spike to the upside to take out weak stop losses. We can note an Ending Wedge pattern. This offers a medium-term bearish bias. Trend line resistance is currently located at 49,915. We have the 50K Big Figure in proximity. Support is located at 48,987. Conclusion: there is ample scope for a continuation of this consolidation. I look for dips to find buyers. Traders taking long positions should not outstay their welcome. The medium-term bias is firmly fixed to the downside