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Saturday, January 22, 2011

Dow Jones Testing the resistance line

1) Trend Line - Still above the Uptrend line and now testing the resistance of 11878. If break this resistance on Monday, further bull run continuation will proceed
2) HH - Already broken above the previous higher high at 11742 indicating uptrend
3) MACD - Both signal still hugging each other but the blue line is still above the red line which might show a very very slow uptrend.
4) RSI - Rebound on the overbought support and bounce back which showing potential uptrend
5) ADX - ADX signal at 35 indicating strong momentum with bullish blue signal uptrend

Next week, Dow will look promising for another uptrend but if reversal and retrace from the resistance, time to take some profit and accumulate back again when it rebound at the support line of 11756

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