Of interest is the fact that 7200 (2 x 3600) points off the 6470 low is 13670.
The first weekly range in the bull market was 6470 - 8878 = 2408 (2/3 x 3600=2400)
3 times the base target is 2408 x 3 = 7224 + 6470 = 13694
So,3 reasons for resistance in 13666-13694 area We can average these to get 13680
Here is another observation,chart posted by Joy Division at Daneric's
Close enough for a government job. We shall see. nitram http://stockcharts.com/freecharts/gallery.html?$INDU
ReplyDeleteHi Nitram,yes it seems a strong enough resistance level to at least warrant a pulback
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