January 31, 2011

Dow Jones technical analysis

WEEKLY CHART
DOW JONES 15 MINUTES CHART
  • Dow jones weekly chart shows a bearish candle at the top.
  • A bullish candle during this week may negate the bearishness of the previous candle.
  • But price has not retraced much yet. If price falls below last weeks candle we may see more bearish action.
  • 15 minutes is showing a continuation flag pattern.
  • Level for bulls to cross 11870 for a short term up move to happen
  • Break below 11800 will favour bears.

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