A level of important price resistant for price to surpass and also a level of important price support to maintain above. Price trading above the RALLY POINT will mean more upside price action ahead.
A zone where price is deemed WEAK in the short term period. Only progressive rebound can be seen trading in the short term. But failing to SURPASS the RALLY POINT will only put the price into a longer term of downtrend price action.
(The U.S DJIA Market)
- Uptrend formation rally was formed in Year 2016.
- DJIA rallied from 17,000pts in Year 2016 to 26,600pts in Year 2018 (+9,600).
- Trade wars news season putting the DJIA in a sideways consolidating mode for the past 6 months of Year 2018.
- While each time the DJIA hits its ‘mother of all support’ and rebounded 3 times previously, will the DJIA rebound again for the 4th times from its ‘mother of all support’?.
- While looking at DJIA, global stock market indices are already below their ‘mother of all support’ spinning into their downtrend rally.
- Will the U.S DJIA rebound from its ‘mother of all support’ lifts up the global market indices not from their downtrend rally but their oversold zone condition?
- Failure to do so will mean brace for a little longer downward impact ahead.
[U.S Mother of all support 24,000]
[Shanghai Mother of all support 3,330]
[Singapore Mother of all support 3,430]
[Hong Kong Mother of all support 29,640]
[Malaysia Mother of all support 1,807]
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