DJI bouncing off a 61.8% Retrace Level
Welcome back traders, and thank you for taking the time to read my charts.
I’m currently looking at the DJI and I have a few reasons to believe we are about to push upwards from this level.
1) We are a 61.8 retrace level from the last double bottom that ignited the move.
2) previous resistance is now showing support at the same 61.8 level.
3) we got a strong bounce off the moving average
Aside from the stocks moving the DJI, if you look at Apple, Tesla, Microsoft… All of them are also at 61.8 level from the last major move.
I’m currently looking at the DJI and I have a few reasons to believe we are about to push upwards from this level.
1) We are a 61.8 retrace level from the last double bottom that ignited the move.
2) previous resistance is now showing support at the same 61.8 level.
3) we got a strong bounce off the moving average
Aside from the stocks moving the DJI, if you look at Apple, Tesla, Microsoft… All of them are also at 61.8 level from the last major move.