DOW Crash with Fibs.
Drawing a Fibonacci retrace from the low of Black Monday 1987 to the highs of Summer '07, the crash retraced down to the .618 fib or a 54% loss.
Drawing a Fib from the the Feb 2009 low to the Feb 2020 high, the .618 fib line would be around $15,000 and the last '07 high of $14000 would be support.
This would correlate with a similar crash of 50+% if the market fails to rebound back above the 50 Week Moving Average line (in red) and breaks the 200 Week Moving Average (in blue).
Between $14,000-15000 DOW.
Drawing a Fib from the the Feb 2009 low to the Feb 2020 high, the .618 fib line would be around $15,000 and the last '07 high of $14000 would be support.
This would correlate with a similar crash of 50+% if the market fails to rebound back above the 50 Week Moving Average line (in red) and breaks the 200 Week Moving Average (in blue).
Between $14,000-15000 DOW.
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