The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/10/08
Dow Jones Support & Resistance Levels - December 10, 2008
Resistance Levels: 1600
Dow Jones Support & Resistance Levels - December 10, 2008
Resistance Levels: 1600
The Dow Jones attempted to break 9000 yet again but failed today right at the 50 day moving average. We are right in the middle of the current trading range of 8600-9000. I am expecting a major move in the Dow Jones within the next week as the 10 day and 50 day moving averages are coming close together, something usually has to give. As of now, I am still bullish as we are still above the 10 day moving average but if we would close below 8500 support, it could set up more downside pressure. On the upside, a close over 9000 would be very bullish and we could have yet another rally higher to test the 9653 high. As long as we remain over 8500, I think we are OK! More Technical Analysis - Go HERE
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