aravindran1

experimentation With Fibonacci lines on DOWI

INDEX:DOWI   DOW Industrials
23 0 1
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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