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Greetings,
Can anyone offer commentary on support levels for the DJIA. My work is
suggesting support at 7158, which is basically where we are at now.
However, other indicators such as trendlines I have constructed on the
weekly charts indicate support around the 100 week moving average of
approximately 6400 or so. Lastly, I have a retracement level of .618 at
about 7089 based on the rally from the April lows to the August high. I
am kind of scattered here, as I am new at trying to forecast these types
of levels. Am I on the right track?
Any help with this would be appreciated.
Regards,
Mark
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