October 28, 2010

Dow jones Support and resistance lines

  • Dow Jones takes support near the support line of the triangle.
  • Price is approaching the apex of the pattern so we can expect a breakout soon.
  • Dow Jones Hour chart with support and resistance lines.
  • Chart is showing a triangle formation.
  • Price approaching the bottom of the triangle. If price gets support here an up move is possible.
  • Breakdown from the triangle will favour bears and may take price below 11000.
  • If price gets support up move can last at least till 11140 were price may find resistance.

No comments:

Post a Comment