markets technical analysis update
Notice the ascending configuration of the graph, as well as the bottom oscillator 2008 when it reached extreme levels – the market made an opposite move
So we saw declines and the day is rising but what is interesting is the strength and the ability of the market to attract moves of strong movements
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| markets forecast |
Technical look from the close look at the chart again.
one more thing to finish is to test one indicator – as you can see in the chart only one time in the past, he breaks up the red line (extreme situation) -this movement was in 2008 and bring 45% move from the break, so, if we will go now those days, its give us the same target as I mention above apx 25,600 + but from those levels the risk is high, if im right and take consider the last move in 2009 ( extreme situation ) so we left aps 2 weeks or when the indicator I mentioned will reach too high extreme levels as happened in 2009 – its stood on 2131 while today he stands on 2043 ,it’s really not far, more than that if you will look on the bars and the angle that price climbing, its really annoying angle ( Very sharp gradient)
I’m expecting to see DOW JONES Is going to produce a downward correction in prices very soon – If you ask me about the depth of the correction in terms of prices – I expect a decrease in the area 24000 points + _ If I had to assign a probability, in this case, will be 70%.
The Dow Jones is currently overbought in any period
an important point is the area price level of 24000 points As long as keeping on this level the trend is long
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| dow jones analysis |
also look at the SP500 – support area stay on 2600+_
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| sp 500 correction |
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