May 17, 2011

DOW JONES Analysis after closing bell

  • First chart shows price hitting the support line of the small channel drawn in daily time frame. So it is at a make or break area.
  • Next chart shows price forming a descending triangle pattern in daily chart. Price is above its 50 day moving average.
  • Hour chart looks interesting, Price is converging between 50 Hour and 200 Hour Moving average, So we must get the first clue from the hour time frame to which direction this is going to breakout.
  • SLV ANALYSIS

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