DOW bottom prediction from TA
This is my prediction of the DJI from a technical analysis point of view.
So many confluences line up for this to happen and would mean Dow would never actually enter a bear market bottoming out at around 22%.
38 fib from top to covid bottom. It WILL react from this level, how it's obviously unpredictable and that's where fundamentals come into play to determine how it reacts.
EMA is a nice confluence to have for long term outlook.
The obvious key level of the pre covid high will be a SOLID support.
downward trend lines if it keeps reacting as it does it'll also align with this area.
Lots of opportunity to trade this area I expect volatility, but one things for sure we are in an overall bear market, expect rallies but a recession is coming, the great resignation will only get worse with massive amounts of lay offs during recession, and an overall slow down with QT and housing market slow down.
good luck and always invest in companies actively changing the world!!!
So many confluences line up for this to happen and would mean Dow would never actually enter a bear market bottoming out at around 22%.
38 fib from top to covid bottom. It WILL react from this level, how it's obviously unpredictable and that's where fundamentals come into play to determine how it reacts.
EMA is a nice confluence to have for long term outlook.
The obvious key level of the pre covid high will be a SOLID support.
downward trend lines if it keeps reacting as it does it'll also align with this area.
Lots of opportunity to trade this area I expect volatility, but one things for sure we are in an overall bear market, expect rallies but a recession is coming, the great resignation will only get worse with massive amounts of lay offs during recession, and an overall slow down with QT and housing market slow down.
good luck and always invest in companies actively changing the world!!!