INDU continues to struggle
Started by
allan
, Apr 22 2013 10:26 AM
3 replies to this topic
#1
allan
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Posted 22 April 2013 - 10:26 AM
I think support is about to fail.
#2
fib_1618
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Posted 22 April 2013 - 11:25 AM
But as you've noted on your chart, the MACD says otherwise, so why the forecast of a failure?I think support is about to fail.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
#3
allan
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Posted 22 April 2013 - 11:57 AM
With the bullish divergence since last week, the DOW should have broken above the upper trend line by now. That's why i was expecting a failure. I am still expecting a big move here, we have the upper trend line and support, lets see which way it breaks.
#4
fib_1618
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Posted 22 April 2013 - 12:20 PM
Well...you are dealing with a super sensitive time period, but until the spike of last week is taken out, the Dow will not be able to break above resistance.With the bullish divergence since last week, the DOW should have broken above the upper trend line by now.
It should be close to it now I would think at 13:19?
On the flip side, you would need to break of the bottoms you've drawn on the chart for a failure.
Fib
Better to ignore me than abhor me.
“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
"Beware of false knowledge; it is more dangerous than ignorance" - George Bernard Shaw
Demagogue: A leader who makes use of popular prejudices, false claims and promises in order to gain power.
