July 25, 2011

Ascending Triangle of Dow Jones

  • Dow Jones is forming an Ascending triangle pattern and a Double Top.
  • Considering the fundamental situation an ascending triangle is very likely to play out.
  • If Price gets support @ the rising trend line then we might see a breakout above 12750 levels.
  • Price not holding the support line and and breaking below 12296 will lead to a Double Top pattern.
  • LAST UPDATE ON DOW JONES - RESISTANCE @ 12750

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