Dow Jones Industrial Average Index (WS30) could not double its value from GFC. Now What to Expect? The question is extremely relevant in the present stock market indices markets. Let’s find out through this blog post.
Dow Jones Industrial Average Index (WS30) printed a high of 14,198 price level in the month of October 2007 before the infamous GFC (Global Financial Crisis)
Dow Jones Industrial Average Index (WS30) came down during GFC to print a low of 6,470 price level in the month of Mar 2009 as shown in the chart.
The difference between 14,198 price level and 6,470 price level is 7,728. If we double 14,198 we get a price level of 28,396.
Dow Jones Industrial Average Index (WS30) went up to 28,159.9 on last Tuesday the 19-Nov-2019. It fail shy of 28,396 by 236.1 and at the time of writing this post, it is trading at around 27,960.7 level.
Since Dow Jones Industrial Average Index (WS30) could not, so far, closed above 28,396, we can expect a correction if it is closing below 27,501 on a weekly basis and its low is taken out. Else if it closing above 28,396 and its high is taken out then we can expect a new high.
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