The Butterfly Effect on Global Market

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The latest DJIA chart reflects strong indications of reversal to positive direction.
Despite suffered by massive sell-off caused by global fear of US recession on most investor perception, the DJIA Chart show that optimism take place.

Climb on DJIA supposed to continue although shadowed by profit taking and sell-off action on pessimism of US economy.

Critical resistance level on DJIA
12.403 (38,2% Fibonacci Retracement)
12.679 (50% FR)
12.956 (61,8% FR)
13.349 (78,6% FR)

Based on the Butterfly Pattern found in the chart, the most critical level to be wary is 61.8% Fibonacci retracement. If that level could pass through, we have the bigger probabilities to see DJIA make new high.

Best regards,