Observation with GANN and DowJones

Last three days of price action in dow is really mindblowing. On tuesday it looks like Dow Jones had broken
the GANN Resistance zone after closing above long term GANN Resistance 10,838. But the very next day if had falled and closed below 10,838 decisively. Even yesterday when US market opened and trying test near the 11,000 zone i feels like 11,000. But When i woke up in the morning it is a big surprise for me. I took my Amibroker and downloaded the dowjones EOD data. I was surprised. Still Dow Jones is very closer to the GANN Resistance level. Any Fall below 10,838 should attempt to target the first support zone 10,400.

Still the long term GANN Resistance for Nifty lies near 5440

Dowjones GANN Chart

Dowjones Zoomed GANN Chart

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Rajandran R

Rajandran is a trading strategy designer and founder of Marketcalls, a hugely popular trading site since 2007 and one of the most intelligent blog in the world to share knowledge on Technical Analysis, Trading systems & Trading strategies. More From Rajandran R »

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    • Rajandran is a Market Analyst and founder of Marketcalls, one of the most intelligent blog in the world to share knowledge on Technical Analysis, Trading systems & Trading strategies.