Had to put the log on for this perspective do to the length of time and the parabolic last 18 month run for DJI..
Broke up trend (Yellow line)
Next line of support (Purple line) - 34k.
A drob below 34k and I think things deteriorate quickly.
Depending on how fast things drop channel support could be around 27.5k -28k. That would be a 30%+ drop. As you see the Dow could ride the top end For months until a proper catalyst comes to act as gravity. Like I said, i think things get really ugly if we close the month out below 34k (Purple line).
Broke up trend (Yellow line)
Next line of support (Purple line) - 34k.
A drob below 34k and I think things deteriorate quickly.
Depending on how fast things drop channel support could be around 27.5k -28k. That would be a 30%+ drop. As you see the Dow could ride the top end For months until a proper catalyst comes to act as gravity. Like I said, i think things get really ugly if we close the month out below 34k (Purple line).
