DJI / US30 being rejected from 90 year old resistance ?
Last March I posted on this particular topic already and it is just becoming more exciting!
The red line is the trendline that goes from the top in 1929 to the dotcom top in 2000. Note that this is a logarithmic chart. Point is that we are again testing this trendline. Although the week is not over, it seems that~the market does not want to buy above this line. Let's see in the next couple of weeks how this develops!
The red line is the trendline that goes from the top in 1929 to the dotcom top in 2000. Note that this is a logarithmic chart. Point is that we are again testing this trendline. Although the week is not over, it seems that~the market does not want to buy above this line. Let's see in the next couple of weeks how this develops!
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Just looking at this. Although we need to consider this form a monthly or quarerly perspective, It seems for now that the this trendline is one bridge to far. Question is what does it tell us if price action really shows a rejection at the end of June?
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