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Sunday, July 10, 2011

Will Dow Jones retrace after a long bullish run?

Hmm.. Wonder will Dow Jones take some rest and retrace to the support or continue to march upwards.. Let hope it continue non stop..

1) Trendline - Uptred- (Bullish)
2) Formed higher high - (Bullish)
3) MACD - 4G1R (Bearish)
4) RSI - Broke above 70% (Bullish)
5) Sto - Formed Bearish Crossover (Bearish)
6) ADX - normal momentum and Bullish( Bullish)
7) Candle Stick -Formed Hanging Man and let wait for next day trading to confirm ( Slightly Bearish) and if next day trading close with black candle this will show some retracement on the way..
3 Points

       4 Points


Winner BULL
 Next day trading will be critical because if it close with white candle it show that is will be continuous bull run but if vice versa will retrace towards to the support level
Resistance 12783 and 12893
Support 12568 and 12378
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1 comment:

  1. AnonymousJuly 10, 2011

    The Dow bull is still in control. See the Vix, still below 20. No worry.