Dow Jones Industrial Index near Fibonacci extension level
The DJI might see resistance at the 2.62 (rounded) Fibonacci extension level, drawn from the 2007 top and the 2009 bottom. This Fibonacci is around 26,500 so about 2% away from current levels.
Also, the current levels seen on the MACD and RSI are extreme (overbought) levels in historical context. This suggests a high probability of a near term correction or sideways movement.
Also, the current levels seen on the MACD and RSI are extreme (overbought) levels in historical context. This suggests a high probability of a near term correction or sideways movement.
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