Technical Analysis: Lower Dow prompts Global Index sell-off. (ShareCast via Yahoo! UK & Ireland Finance)
Last night the Dow Jones closed at its lowest level since 2003 just below 8000 at 7997.30, after CPI data showed its biggest fall in 61 years. It closed just short of the low it made last month in early October at 7882 and a test and fall through this low looks increasingly likely before too long as fears of deflation and further rate cuts come to the fore.
November 21st, 2008 at 5:11 am
[…] Team Forex - Never trade the Forex Alone wrote an interesting post today onHere’s a quick excerptTechnical Analysis: Lower Dow prompts Global Index sell-off. (ShareCast via Yahoo! UK & Ireland Finance) November 20th, 2008 Last night the Dow Jones closed at its lowest level since 2003 just below 8000 at 7997.30, after CPI data showed its biggest fall in 61 years. It closed just short of the low it made last month in early October at 7882 and a test and fall through this low looks increasingly likely before too long as fears of deflation and further rate cuts come to the fore. Post […]