Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Dow Jones Industrials Struggling At Major Fibonacci Level

Courtesy of Chris Kimble

The Dow Jones Industrial Average is in the midst of a bounce off its March low and may be looking to retest its highs in the weeks ahead.

But this could be trickier than most rally retests.

Why? Because the recent high failed right at the 423.6 Fibonacci extension price level (using 2007 high / 2009 low).

As you can see in today’s “monthly” chart of the Dow Industrials, it took nearly two years for this major stock market index to crack its 161.8% Fibonacci extension at (1). And even after doing so, and rallying mightily, it came back to retest the area as support years later!

These Fibs matter.

Once again, the Dow Jones Industrial Average is testing a major Fibonacci level at (2). Will this Fib level continue to cause the Dow to struggle? Or will an uber bullish breakout take place? Stay tuned!

This article was first written for See It Markets.com. To see the original post CLICK HERE.

To become a member of Kimble Charting Solutions, click here.


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!