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Sunday, August 14, 2011

Dow Jones is it stablize or will it further go down

It look like the whipsaw is stabilizing but we are still uncertain about it.

1) Trendline - Downtrend- (Bearish)
2) Formed lower low - (Bearish)
3) MACD - Broke below 0 (Bearish)
4) RSI - Broke below 30% (Bearish) - If Break above 30% potential short term bull
5) Sto - Formed Bearish Crossover and broke below 20% (Bearish) If Break above 20% potential short term bull
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick -2 Black Candle (Bearish)

7 Points

       0 Points

Winner Bear ( Throw down wrestling style)

Let wait for Dow Jones to formed a higher low or higher high first before going for long because it maybe a higher low.
Entry Price 11575
Resistance at 11765 and 11876
Support a 11000, 10710 and 10510
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