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We also see a possible inverted scallop formation forming.
Similar formations on S&P 500 and STI. 38.2% retracement looks more likely.
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Friday, April 24, 2009
DJ, S&P 500 and STI 24/04/2009
Most indices are running in tandem here. Price has been consolidating for Dow Jones since the recent high on 17/04. A pullback should be healthy for the next move up. 38.2% or 50% retracement should be good before moving up as shown in the chart. However, if the price holds above the 23.6% level then we might see the next move up.
We also see a possible inverted scallop formation forming.
Similar formations on S&P 500 and STI. 38.2% retracement looks more likely.
We also see a possible inverted scallop formation forming.
Similar formations on S&P 500 and STI. 38.2% retracement looks more likely.
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