We all we thought Dow Jones will break above from the downtrend zone at 12112 and go up north after the nice Hammer on Thursday but it was not able to sustain the power .. So Sad....
Observation
1) Trendline - Downtrend - (Bearish)
2) Formed lower high - (Bearish)
3) MACD - breach below 0 and fromed 4G1R ( Bearish)
4) RSI - Rebound below from 50% ( Bearish)
5) Sto - Bearish Crossover and rebound from 80% ( Bearish)
6) ADX - normal momentum and bearish ( Bearish)
7) Candle Stick - Black Candle ( Bearish)
7 Points
ConclusionWinner Bear ( Throw down wrestling style)
Did not manage to break the downtrend eventhough have a great candlestick signal ( Hammer on thursday) Need to be monitor closely as the dowtrend line is heading towards the next support
Entry Price 12100
Resistance at 12269 and 12378
Support at 11875
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