June 19, 2010

Dow jones end of day analysis

BROADENING BOTTOM 

FALLING WEDGE

MOVING AVERAGE

  • Dow jones has formed multiple patterns in daily chart.
  • The broadening bottom pattern is shown in daily chart.
  • There is a falling wedge pattern which has given very good returns.
  • Then the moving average is not hinting anything. Having captured the 200 day moving average the price did not follow up. It has been a sideways market for the last 4 days as far as the closing prices are concerned.

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