DOW daily chart. My first technical target is still 12.285 in this first wave on downside since Oct 5 high at 13.663. Dow has lost 8,2 % so far since the top or 1.122 points. The low Wednesday hit the rising 21 month MA and then closed up 30 points. Thursday could either retest 12.541.1 and if it holds move on upside or take a new low. All small and big trends are down and there is lots of resistance on upside. The low horizontal line shows my approximation target.
SP500 and NAS also took new lows as did FTSE and DAX at close in the US. Europe will most likely open at 09:00 with big gaps which must be closed so I cannot tell any details of what will happen. The EURO has held steady which is a bit surprising but the daily trend is still down.
No comments:
Post a Comment