Long-Term Fibonacci Support and Resistance by Kevin W. Murphy
ARTICLE SYNOPSIS ...Here's a historical review of the major swings in the stock market and the Fibonacci relationships.
According to long-term Fibonacci›
support and resistance
levels in the Dow Jones
Industrial Average (DJIA), we
are approaching a notable resistance
level in the stock market.
Many books have been
written on the Fibonacci sequence
and its many mathematical
relationships; this article
will not delve into those
in any great detail. For those who are unfamiliar with the
Fibonacci sequence, however, I will briefly discuss its basis
and a few of its mathematical relationships and how they are