Remember this photo of a PF i posted in March? ( see previous post) Price went on to pass through the centre line and form a reversal pivot on the LMLP as i deduced at the time.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiXkn5HNMnIMIG3eVnIaHX9i4PfBi9NrGL_q3E5ehQHBWplNuVtq7hkpy2KNRwjr74UDZhk5GISRyWfZro7Vi7Ifj0Bl6IkbNKu0eVfW62CFMGvGB1-5kmkPqsbdM3A1moFvJUa4uEIldpz/s1600/DJII.png)
as seen below today . see the small extension below and above the upper and lower MLP's.
Now we have hit the top upper MLP. Price will try to make a pivot here as we can see with Tuesdays 11 aug trading session. This could be critical reversal point. Remember that with the DJII there is still a gap begging to be filled so that market could make new highs but we will see next few days price action before things will become clearer.
No comments:
Post a Comment