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3 technical concepts and 6 reasons to note 16540 for DJ30

DJ30 daily chart

6 reasons to take note of 16540

3 important technical concepts to note in this DJ30 chart

  1. Confluence – when many reasons come together at the same spot
  2. Price action – the more times a resistance has been visited, the stronger it is
  3. 23.6% fib-retracement – a level associated with strong trends and excitement

Director, TerraSeeds Market Technician Pte Ltd. Trader, investor. @sohtionghum was picked ‘Top 70 Forex Twitter in 2015’. Operates multiple strategies.

“Dear reader, I do not have a financial license to give advice. I do not know you the reader. Your financial objective and risk tolerance may be different from mine. I am not responsible for any consequence of your action.

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2 thoughts on “3 technical concepts and 6 reasons to note 16540 for DJ30”

  1. Daniel Ku Guet Liang says:

    the week has also closed below 2013 high / 52wks high (abt the same level mentioned above).

    1. Soh Tiong Hum says:

      Thanks Daniel. Absolutely. 2013-high.

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