HomeContributorsTechnical AnalysisDow Fell Further after Holding in Directionless Mode

Dow Fell Further after Holding in Directionless Mode

Dow fell further on Monday after holding in directionless mode during past three days and hit fresh nearly six-weeks low at 20386, where rising 55SMA offered temporary to renewed bears.

Extended wave C, on which the price is currently riding, hit levels below its FE 161.8% (20400), seeing scope for further extension towards next Fibonacci expansion levels at 20344 (176.4%), possibly towards double Fibo support at 20260 zone (FE200% / Fibo 61.8% of 19713/21160 rally).

Session high at 20526 (also 22 Mar low, reinforced by falling 4-hr 10SMA) marks solid barrier.

Res: 20471; 20526; 20558; 20664
Sup: 20400; 20386; 20266; 20225

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
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