Friday, 5 October 2012

Dow 13680 resistance


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

 
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2 comments:

  1. Anonymous5 October 2012 at 22:31

    Close enough for a government job. We shall see. nitram http://stockcharts.com/freecharts/gallery.html?$INDU

    ReplyDelete
  2. Chartrambler6 October 2012 at 21:48

    Hi Nitram,yes it seems a strong enough resistance level to at least warrant a pulback

    ReplyDelete