DJIA posted a new all-time high at 14684 (2 April) before consolidating. While the 3-month bull trendline (off 31 December 2012/25/26 February/5 April lows) support holds, scope remains for further strength targeting the Fibonacci projections at 14899 (1.500x 12035/13653 from 12472) ahead of 15090 (1.618x). A move below 14434 (5 April low) near the bull trendline would open the key 14382 support (19 March low). Only sustained weakness below the latter would delay bulls and expose 13784 (25/26 February low) where bull may reassert.
No comments:
Post a Comment