aravindran1

experimentation With Fibonacci lines on DOWI

DJ:DJI   Indice Dow Jones Industriel Moyen
Just experimenting with Fib trend lines to see if there is a way to forecast where stock prices are most likely to hit support and resistance levels. It interesting to note that the 1.618 Extension level around ( 18989.75) has not been reached in the DOWI while it has in other indices like the SPX. Hence i assume that should be the next level of resistance.

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