DOW Jones Resistance levels

• Dow Jones is near its 20 Day moving average.
• Price is also approaching a resistance line in daily chart.
• So for bulls closing above 20 sma and the resistance line will be good.
• Getting resisted here may give a shorting opportunity for bears.

DOW JONES Trend update

• Dow closing the hour and sustaining below 38.2% Fib level will push it towards 50% Fib level.
• Price staying below 200 Hour moving average will favor bears.
• Price has broken the trend line in hour chart next important support is at 12296 levels.
• DOW JONES PAUSING NEAR RESISTANCE LEVEL
  

Ascending Triangle of Dow Jones

• Dow Jones is forming an Ascending triangle pattern and a Double Top.
• Considering the fundamental situation an ascending triangle is very likely to play out.
• If Price gets support @ the rising trend line then we might see a breakout above 12750 levels.
• Price not holding the support line and and breaking below 12296 will lead to a Double Top pattern.
• LAST UPDATE ON DOW JONES - RESISTANCE @ 12750
  

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
  

DOW JONES Weekend update

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• The Diamond pattern and the spinning top Candlestick pattern may be able to stop the bulls from trading above 10960 levels.
• Diamond pattern is a bearish one so this one needs some help from the spinning top pattern as well. But if price starts trading above 10960 the above Scenario will be invalidated.
• Last week price got resisted at the 78.6% Fib level. So a good volume breakout above this level will be good news for the bulls.