July 21, 2011

DOW JONES Pausing near Resistance Level

  • During the last up move price turned down from 12750 levels.
  • Today's Up move too is finding resistance at the same place.
  • This does not mean that price is going to fall from here.
  • MACD shows developing negative divergence. But there are chances of price making another high before negative divergence shows its effect.
  • If price closes the day below 12750 levels then chances of a correction is there.

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