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Jan 18, 2019 8:51 AM

ITW Appraoching Resistance, Potential Reversal! Short

Illinois Tool Works Inc.NYSE

Description

ITW is approaching our first resistance at 140.10 (horizontal swing high resistance, 100% Fibonacci extension, 38.2% Fibonacci retracement) where a reversal could occur. Stochastic is approaching resistance as well where we might see a drop in price as it reacts off this level.
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