Dow Jones Industrials Triple Topping At Key Fib Price Level?

by Kimble Charting

The 4-month stock market rally to start 2019 brought the Dow Jones Industrial Average within 1 percent of its all-time highs made in 2018.

This strong move higher has bulls excited about a new bullish wave higher that will lead to new all-time highs.

But that cannot occur until the Dow Industrials decisively break out to new highs.

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And if bears have their way, this test of resistance will form the third and final top within a bearish triple top formation.

At a minimum, this price area looks to be strong resistance. This triple top testing area also marks the 261.8 Fibonacci price extension.

A pullback or correction from this level would not be uncommon. Bulls want a breakout, bears want a triple top. Let’s see how it plays out! Stay tuned!

This article was first written for See It Markets.com. To see original post CLICK HERE

 

 

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