Dow Jones - A near term top or new rally?
Updated
This is a monthly candle chart. Applied Fibonacci levels to 2008 highs and 2009 lows.
Dow Jones index tested a crucial Fibonacci level of 2.618 at 26500 in January and failed, looks like its going for a retest now. Observe the RSI divergence below
Will it succeed? Depends on lot of Global factors and US elections...
Dow Jones index tested a crucial Fibonacci level of 2.618 at 26500 in January and failed, looks like its going for a retest now. Observe the RSI divergence below
Will it succeed? Depends on lot of Global factors and US elections...
Trade active
DOw seems to be struggling at 26500. Correction may be possible from these levels.Note
As predicted Index is rejecting the 2.618 retracement.Expect more downside as long as 26500 is not taken out on a weekly basis.
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