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Tuesday, February 13, 2018

Dow Jones Index - History was made on 5 Feb and 6 Feb! What's does it mean for traders?

Dow Jones Index  -  History was made on  Dow 5 Feb and 6 Feb. On 5 Feb Dow recorded its worst point fall in history and on 6 Feb it recorded its heaviest trading volume . On 5 feb Dow fell 1175 pts and it also recorded widest trading range of 1592 points in history. On 6 Feb it recorded its most volatile day with record volume. What does this mean for traders? In fact these Price Action provide a significant Ceiling (resistance) and Floor (support). If prices break and stay above 25520 (ceiling/5 feb high) the bull run will likely continue and if it breaks and stay below 23728 (floor/6 feb low) a bear market or a protracted correction may  follow. It is important for traders and investors to understand these  Price Action to know whither the market is heading.

All posts and charts are for educational and illustration purposes only

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