April 21, 2011

DOW JONES Above the resistance line

  • Dow Jones Trades above the resistance line in daily chart. This can also be taken as the neck line of the inverted head and shoulders pattern.
  • Price should sustain above 12450 level.
  • If a strong trending move is about to unfold price may not touch the 20 day moving average for some days to come.
  • TRIANGLE OF GOOGLE
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2 comments:

  1. mynacApril 21, 2011 at 10:26 PM

    Dear San,
    At present it looks that bears will be in trouble if Dow starts to trade convincingly above 12515. If it will then it will be big victory for Bulls.The task is now well within the reach too.Let us see.

    ReplyDelete
  2. SanApril 21, 2011 at 11:06 PM

    Hi mynac
    Closing above 12515 means breakout from the big inverted head and shoulders pattern Then as you said its big victory for Bulls.

    ReplyDelete

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