The current price action brought DJI to a confluence level of upward fibonacci retracement and the top formation resistance. It was also observed that the downtrend line is nearby. RSI looks to be trading at the downtrend line. MacD indicator has a very interesting development. The signal line and MacD line crossed over during the last crash in March'07 and market recovered swiftly. This time round, we are at the same crossover point, the outcome will be interesting.
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DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
