The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 11/20/08
Dow Jones Support & Resistance Levels - November 20, 2008
The Dow Jones closed below 8000 for the first time during this latest leg down, very bearish. Support Levels to look at right now are 7965 and 7773. If these don't hold, look for 7500-7600 to be tested. If 7500 is closed below, I think you could see the first digit on the Dow become a 6 sometime down the line. These are the support levels to watch for the Dow Jones Industrial Average ( DJIA ). Now, which resistance level do you want to be watching for an upside spike? I think 8504, the November 19th high is a great place to look....if the Dow Jones can close below 8000 and then spike up to take out the 8504 high, I think you could see 8800-9000 be tested again. November 20th, 2008 will be a crucial day for the stock markets. Just remember, stocks down go straight down without bounces, nor do they go straight up without corrections. Check out my previous Dow Jones Charts.
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