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Eerie echoes of 2008 emerging on the Dow chart
If you take a look at the chart for the Dow Jones Industrial index, you will see very similar patterns to those which emerged right before the financial markets collapsed in 2008, says Saxo Bank Technical Analyst Kim Cramer Larsson.
According to Kim, you can see the patterns in the price as well as the relative strength index and moving average convergence/divergence indicators. Among them is a so-called Death Cross, which is one of the signs of a coming bear market.
Kim explains what levels he is watching out for and why a close below the 200-week moving average could trigger a 20% collapse in the Dow.
01:50 minutes
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