Dow got a new 2 hr chart closing high at 11.709 and a new 11 week intraday high at 11.724 in Europe Monday. The sell off started at CET 11:08 and the low so far is at 11.473.
Dow has pushed up through the falling 21 week MA with 50 points before the sell off started. The 2 hr chart uptrend is still in place, although the 8 MA is down, because it will take time to cross the 21 and 34 MA:s. My feeling just now - which of course can be wrong - is that the uptrend bottom channel and the 55 MA at around 11.470 down to 11.455 will give support.
Dow has pushed up through the falling 21 week MA with 50 points before the sell off started. The 2 hr chart uptrend is still in place, although the 8 MA is down, because it will take time to cross the 21 and 34 MA:s. My feeling just now - which of course can be wrong - is that the uptrend bottom channel and the 55 MA at around 11.470 down to 11.455 will give support.
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