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Tuesday, August 23, 2011

Dow Jones still in downtrend

Even today is positive but have to play safe and dont be happy of a dead cat bounce. It may dive further down.

1) Trendline - Downtrend- (Bearish)
2) Formed lower low - (Bearish)
3) MACD -4G1R(Bearish)
4) RSI - Heading towards 30% (Bearish) -
5) Sto - Formed Bearish Crossover and broke below 20% (Bearish)
6) ADX - high momentum and Bearish( Bearish)
7) Candle Stick - Inverted Hammer (Bullish)



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 10710 and 10510
Daily Buy Call in Forum..  (Do not forget to view here for daily Stock Picks)

1 comment:

  1. denko buliish breakout ...foreign mdeical device tie up