DOW hit the weekly falling 21 MA at 12.828 Tuesday and then fell to just above the rising 8 week MA at 12.605 before closing at 12.651. This move happened to be exactly what I wrote about in yesterdays blog.
The falling 21 week MA is now tested and protected for at least the next five days since this morning the daily 8 MA also turned down to 12.802 which now is the main resistance point for any rally. I expect further test on downside today with 12.603 as main support. Trading in Asia has reached a low of 12.620 and the Dow is now trading at 12.641.
The falling 21 week MA is now tested and protected for at least the next five days since this morning the daily 8 MA also turned down to 12.802 which now is the main resistance point for any rally. I expect further test on downside today with 12.603 as main support. Trading in Asia has reached a low of 12.620 and the Dow is now trading at 12.641.
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