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aravindran1
Aug 4, 2016 1:34 AM

experimentation With Fibonacci lines on DOWI 

Dow Jones Industrial Average IndexDJ

Description

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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