DowJones in Free Fall? - Drops Through Support
As you can see in the circled area, DIA has dropped below the support dating back to late 2016. This could mean that the price will maintain a free fall back towards the longer term support curve which was almost a full year prior to the new curve. The next few days will be be very important to watch closely as DIA decides its next movement.
The key location to watch is where the resistance curve from the all time high intersects with the older support curve. Two possibilities are prevalent as usual.
1)If the price breaks above the resistance prior to this intersection, we can expect bullish behavior.
2) If the price drops below the support curve prior to the intersection, then mayhem may pursue.
The key location to watch is where the resistance curve from the all time high intersects with the older support curve. Two possibilities are prevalent as usual.
1)If the price breaks above the resistance prior to this intersection, we can expect bullish behavior.
2) If the price drops below the support curve prior to the intersection, then mayhem may pursue.