November 27, 2010

DOW JONES Weekend update

  • Dow Jones four hour chart shows the cloud acting as resistance in this time frame. Price tried to go above the cloud several times but met with resistance from the ichimoku cloud. 
  • Daily chart is shown with 20 and 50 DMA's. 
  • 20 DMA acted as resistance this week and 50 DMA gave support at lower levels.
  • Weekly chart is shown with the weekly trend support and resistance. Main support on weekly chart is between 10710 - 10730, Resistance is between 11240 - 11260 levels.
  • For next week the hourly chart is showing a range of  10970 - 11200..

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