that it has a downtrend line that is capping rises atm, and in the process confirming the downtrend... if it doesn't bust through the downtrend line expect a significant move down... watch for how it behaves coming up to resistance.. if it is capably absorbing the heighened level of selling that is always at the downtrend line, then it might bust through after some consolidation under the line ... if it is struggling then its consolidation under the line will probably be brief... in any case, its usually a higher probability trade at resistance is to (a) go short or (b) at least sell longs and then wait for the long move to prove itself before reinvesting... it needs to bust through on good volume to prove itself and then retest the trend line from above, but a retreat lower from the line doesn't need big volume to validate itself... trend lines are in place until proven otherwise...
DOW Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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