Yes I know this isn't the fanciest of analysis that some of you have probably seen but hear me out <3
As many of you most likely have seen, DOW JONES touched on the 1D MA200. This now means one of two things are likely going to happen. The first possible outcome of this is that we will see a further collapse down to the 34100-33900 range (but as we are just experiencing a sharp pull back and not in danger of a full out collapse as of yet, I don't see this occurring)
My idea is that we are going to see a sharp rebound (just like previous occasions when we have hit the 200) so my plan is that it will give the DOW enough momentum to push past the 36200 level it has previously been rejected at touch on the previous high and even make a new ALL TIME around 3700 area. Then, and only then, can we start to seriously consider the likelihood of a full out collapse of the DOW
I would greatly appreciate any and all opinions on this idea so please feel free to share :))
As many of you most likely have seen, DOW JONES touched on the 1D MA200. This now means one of two things are likely going to happen. The first possible outcome of this is that we will see a further collapse down to the 34100-33900 range (but as we are just experiencing a sharp pull back and not in danger of a full out collapse as of yet, I don't see this occurring)
My idea is that we are going to see a sharp rebound (just like previous occasions when we have hit the 200) so my plan is that it will give the DOW enough momentum to push past the 36200 level it has previously been rejected at touch on the previous high and even make a new ALL TIME around 3700 area. Then, and only then, can we start to seriously consider the likelihood of a full out collapse of the DOW
I would greatly appreciate any and all opinions on this idea so please feel free to share :))