The DJI had entered the danger zone on Thursday Sep 22, 2022.
The Danger zone failed to support the prices the week closed with a break-thru below the support.
The previous weeks range is ~1176 points. Potential of a ~30% rally of this range (~532 points) to establish the high for the week.
With a potential failure of ~ 70% of the range (~1243 points) to establish the low for the week.
There is a 66.91% chance of prices making a lower high (than previous bar) and lower low (than previous bar)
There is a 12.03% chance of prices making a higher high (than previous bar) and higher low (than previous bar)
There is a 10.88% chance of prices staying between the high and the low of the previous bar.
This would then begin a new support and resistance range and depending on how the week closes, the directional attitude of the first week in October.
The Danger zone failed to support the prices the week closed with a break-thru below the support.
The previous weeks range is ~1176 points. Potential of a ~30% rally of this range (~532 points) to establish the high for the week.
With a potential failure of ~ 70% of the range (~1243 points) to establish the low for the week.
There is a 66.91% chance of prices making a lower high (than previous bar) and lower low (than previous bar)
There is a 12.03% chance of prices making a higher high (than previous bar) and higher low (than previous bar)
There is a 10.88% chance of prices staying between the high and the low of the previous bar.
This would then begin a new support and resistance range and depending on how the week closes, the directional attitude of the first week in October.