US30
New forecast
The index price is still trading between the support line at the level of 35893 and the resistance line at the level of 36264 until this moment, so we are forced to remain neutral and hold below it or above one of the two barriers in order to see our goals more clearly.
Therefore we forced to wait until stability , so stabilized under 35893...
We seen the market make a retracement last week to our 120% fib level. What does this mean? Nothing really because we didn't take any short positions. All this mean is that we retraced to 120% which is above our daily resistance zone (25882).
If we take a look at our weekly chart our weekly midrange support (25000) has held firm causing the price to shoot back...
The chart pretty much explains it all. I've slid over the Fib Retracement so that you can see the numbers better (FIB drawn from 24DEC18 candle to current candle). I believe we will retrace to the 0.236 Fib level, which is 25162 or close to it. I also believe it will turn around at the R1 Pivot Point. This being said, my stance on the Dow will be neutral i.e....
