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DJIA Enters Confluence Region
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tact888
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15-Apr-2010 21:39
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DJIA has crossed the 11000 milestone and has just enter the confluence region indicated by the orange box. This orange box is similar to the lavender box which enclosed the congestion period around late June 2008 to late September 2008. Within this orange box are 2 probable resistances :- 1. The measured move projection of the inverted head and shoulder breakout as shown by the red dotted line. 2. The 61.8% Fibonacci Retracement taken from the Oct 2007 all time high to the low on March 2009. Stay alert as probable reversal may be triggered within this confluence zone. View chart at http://tactcharts.blogspot.com/2010/04/djia-enters-confluence-region.html |
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