DOW Jones constantly interacting with the trendline since last few days.....earlier acting as resistance, currently in bearish phase, acting as support. Constant retests of it will make it weak.
If breached, next support happens at 25750, which has been another point of interaction lately.
Next level of support comes from previous uptrend line.
If the trendline get bypassed, the next level comes at 25070 which is the last terminal point......we may see DOW entering second phase of free fall if breached decisively.
If breached, next support happens at 25750, which has been another point of interaction lately.
Next level of support comes from previous uptrend line.
If the trendline get bypassed, the next level comes at 25070 which is the last terminal point......we may see DOW entering second phase of free fall if breached decisively.
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The Index is now interacting the lower edge of symmetrical triangle.....the second last hope.
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an exact bounce of the lower trendline, survived for now :)
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Since the morning, DOW has tested the lower trendline a couple of times more.
Still hovering around the same levels. If DOW does not break 25600 levels now decisively, we may now see DOW spearing through the trendline support & testing the last line of defense of 25070.
Still hovering around the same levels. If DOW does not break 25600 levels now decisively, we may now see DOW spearing through the trendline support & testing the last line of defense of 25070.
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The trendline support being broken decisively now.........upto the last defense of 25070.
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After yesterday's turmoil at lower trendline, the index again revived & gained its mean position & lately being testing the upper trendline.
The index however has approached the apex point of the symmetrical triangle & the breakout decision direction is not far off.
Action at apex point will be a decisive move & anticipated as a voilent one in either direction.
The index however has approached the apex point of the symmetrical triangle & the breakout decision direction is not far off.
Action at apex point will be a decisive move & anticipated as a voilent one in either direction.
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retest of the symmetrical triangle pattern edges still continues........however not much distance is left from apex & hence the decision point for a big move:)
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The lower trendline breaks again.... Now on testing spree for final support. Fingers crossed.
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During yesterday's trading session after falling off the trendline, the index pierced thru the last support of 25070 & kept testing the same for the whole session. The index was barely able to hold on to the support for the day.
Coming couple of days are going to be crutial for the near term future of the index performance.
Coming couple of days are going to be crutial for the near term future of the index performance.
The bearish trend still continues.