Yes i agree, my downward sloping trendline is touching 3890 and Fib retracement 61.8% = 3885/3890 as I mentioned in my post in the morning!! so fierce resistance and with todays action that is being reinforced......
having said that.......the more times we hit that level the more weaker it will become so be careful guys!! we have hit it 3 times this week alone!!
I was discussing chart patterns with a T2W member the other day because It was something I learnt from Inthemoneystocks, he stated that we no longer see the market pull away from resistance or support lines like we did in the past. There has been a shoft in the mindset/psychology of the investor so we pierce the trend line and then we pull back..............
i will try my very best tonight with the help of my brother to post a chart tonight to show you!! no promises though