Courtesy of Chris Kimble.
Could the Dow be Triple Topping at an important level? Possible!
This chart looks at the Dow Jones Industrial Average on a monthly basis over the past 16-years.
Fibonacci extension levels were applied to the Dow 2007 High and 2009 lows. The 261% level comes into play at the 26,800 zone, as resistance.
It’s possible the Dow is creating a “Triple Top” at the Fibonacci level.
What would it take to prove this is a triple top? The Dow must break below the December lows, which is still a large percent below current prices!
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