Aug 20 2013
There is talk of a correction that could be coming soon. I will admit some indicies have negative RSI divergence. If we trade the chart then let's look at the DOW, as it being a heavy weight index and when it sneezes Australia get's the cold.
Time for a correction, or resuming as normal ?
Below is a chart with Gann 45* degree angles on it. I have to admit I don't study Gann in depth but have found important discoveries in trend confirmation and some HP trading signals.
Monthly chart showing typical Gann lines marked 45* Currently the Dow is in a 63 degree channel. This is quite bullish, until last months low is taken out I would not be looking look to go short. Would I go long ... no, Sitting on hands ... yes. This can be a good trade in itself. If we do break last months low then in Gann theory there is a tendancy for price to gravitate to the next 45* line down. (the line closest to #2) This level is near the all important fibonacci level of 50%. This is a logical area of support if the Dow breaks down. (13050)
Interesting times ahead, Quote " It's not the top or bottom I want it's the bit in the middle"
Comments always welcome :)
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Aug 20 2013There is talk of a correction that could be coming...
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Last
$5.78 |
Change
0.060(1.05%) |
Mkt cap ! $3.626B |
Open | High | Low | Value | Volume |
$5.78 | $5.88 | $5.77 | $3.584M | 617.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 8576 | $5.78 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.80 | 9210 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 11207 | 7.790 |
9 | 88463 | 7.780 |
14 | 155873 | 7.770 |
4 | 46490 | 7.760 |
4 | 41979 | 7.750 |
Price($) | Vol. | No. |
---|---|---|
7.810 | 15057 | 2 |
7.820 | 86140 | 8 |
7.830 | 173913 | 17 |
7.840 | 107016 | 11 |
7.850 | 23268 | 5 |
Last trade - 16.10pm 22/11/2024 (20 minute delay) ? |
DOW (ASX) Chart |