July 14, 2010

Dow Jones fib levels in daily chart

  • If dow jones daily chart with Fibonacci retrace levels for the fall from 11258 to 9643
  • If Dow Jones decides to close above its 200 DMA, I feel there is just one big hurdle before it reaches 10600 that is the 50% retrace level of its fall from 11258.
  • The above scenario plays out only if index closes above its 200 DMA convincingly and on closing basis. 
  • And in doing so the index has to avoid the negative divergence that has developed.
  • DOW JONES FUTURES WITH HIDDEN NEGATIVE DIVERGENCE

No comments:

Post a Comment