December 1, 2010

Dow Jones analysis after closing bell

  • Dow jones closes below 50 DMA once again. 
  • Bulls may try to find support below 50 DMA for an up move.
  • If yesterday's low is not broken this week, we may see a bounce from here.
  • Price is showing a falling wedge pattern which is a bullish reversal pattern. But breaking the recent low would result in continuation of the trend and an invalid pattern which will work in favor of the bears.

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