June 4, 2011

DOW JONES Analysis after closing bell

  • First chart shows Dow closing near the previous support level of 12090 - 12110.
  • Breaking below this level may take Dow to 11500 levels in the short term.
  • Price has closed below its 100 Day Moving Average. But Stochastic indicator is showing Oversold reading which might result in a bounce. If price holds 12090 and come back to close above 100 DMA then we may see a good turn around.
  • Hour chart is getting resisted at 100 Hour moving average. So good up move can be seen on closing above this level.

No comments:

Post a Comment