February 28, 2011

DOW JONES Weekend update

  • Dow Jones hour chart shows 12150 as a crucial level for bulls to cross. 
  • Fib level too shows 38.2% level coinciding with 12150 area. Price closing and sustaining above 38.2% may give another up move in the coming week.
  • Daily chart candlestick pattern shows bullish possibilities. Thursday's candle gave a long shadow which shows buying at lower levels This was followed by another positive candle which resulted in bullish engulfing pattern.
  • Now for the bullish engulfing pattern to work price need to trade above 20 day moving average. A convincing trade above 20 dma can take dow to 12230 levels.
  • 11980 level may act as support in the short term..
  • APPLE WEEKEND UPDATE

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2 comments:

  1. mynacFebruary 28, 2011 at 9:07 AM

    Dear San,
    Thanks.

    ReplyDelete
  2. UnknownMarch 25, 2013 at 5:54 PM

    Informative post, this kind of informative post help traders to get market updates, which is helpful for their earnings from market.

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