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Tuesday, February 13, 2018
Dow Jones Index - History was made on 5 Feb and 6 Feb! What's does it mean for traders?
Dow Jones Index - History was made on Dow 5 Feb and 6 Feb. On 5 Feb Dow recorded its worst point fall in history and on 6 Feb it recorded its heaviest trading volume . On 5 feb Dow fell 1175 pts and it also recorded widest trading range of 1592 points in history. On 6 Feb it recorded its most volatile day with record volume. What does this mean for traders? In fact these Price Action provide a significant Ceiling (resistance) and Floor (support). If prices break and stay above 25520 (ceiling/5 feb high) the bull run will likely continue and if it breaks and stay below 23728 (floor/6 feb low) a bear market or a protracted correction may follow. It is important for traders and investors to understand these Price Action to know whither the market is heading.
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