July 8, 2011

DOW JONES Analysis after closing bell

  • Dow Jones 30 Minutes chart shows price moving up in a channel the smooth up trend yet to be challenged.
  • Hour chart shows price trending up above shorter period moving averages and ichimoku cloud.
  • Hour indicators have started to show negative divergences and weekly resistance is at 12875 level. In all likelihood price will test 12875 level and then start the correction.

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