Dow put on 123 points (+1.26%) at the close of Tuesday trading. Theoretically the 9800 level provides very strong resistance because around this 9800 levels the major wave (IV) was completed and there are 3 high wave candles, as shown above, with their respective intra-day low reaching this level before strong buying emerged to push the respective prices to close at a much higher levels. It is of high possibility that wave A has formed.
Tuesday, June 8, 2010
Dow ended Tuesday with a gain of 123 points
Dow put on 123 points (+1.26%) at the close of Tuesday trading. Theoretically the 9800 level provides very strong resistance because around this 9800 levels the major wave (IV) was completed and there are 3 high wave candles, as shown above, with their respective intra-day low reaching this level before strong buying emerged to push the respective prices to close at a much higher levels. It is of high possibility that wave A has formed.
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