November 20, 2010

Dow Jones analysis after closing bell

DOW JONES DAILY CHART WITH 20 DMA
DOW JONES DAILY CHART WITH GOLDEN CROSS
  • Dow Jones closed the day below its 20 DMA. 
  • The candlestick for the day is a bullish hammer which shows buying at lower levels.
  • Up trend may not resume if price gets resisted by 20 DMA.
  • 50 DMA gave good support for the index. This can extend the effect of golden cross. But if 50 DMA gets broken price will test 200 DMA.