Welcome to the double top, prepare for the drop!
The DJIA achieved a double top and recorded a lower high than the record high on March 1, 2017. The next few days are crucial to see if the Dow can break through this ceiling. If it cannot, the drop could be to recent levels of support or the house of cards could completely crumble.
The stochastic is nearing overbought already and due to come down. The vortex indicators are struggling for direction and neither one wants to break above 1. These indicators support indecision and a potential fall.
The DJIA achieved a double top and recorded a lower high than the record high on March 1, 2017. The next few days are crucial to see if the Dow can break through this ceiling. If it cannot, the drop could be to recent levels of support or the house of cards could completely crumble.
The stochastic is nearing overbought already and due to come down. The vortex indicators are struggling for direction and neither one wants to break above 1. These indicators support indecision and a potential fall.
All forecasts are based on analysis of past behavior. Prior movements are not always indicative of future movement. Develop the theory, test the theory. Do your own research. Nothing in this analysis constitutes advice. YouTube For More. Good luck!!
