14/11/2012

DOW sold off before 11:00 close after hitting Fibonacci 61.8 %. Trend now sideways.

DOW 1 hour chart. Fibonacci 61.8 % held on upside. This level must be taken out before a rally can occur to test the top. It did not manage to do that so it fell back to main support line and closed a bit higher. 21 MA will turn down from CET 14:00 if not a rally closes above the Fib number.

No comments:

Post a Comment