The following is Technical Analysis for the Dow Jones ( DJIA ) for 12/14/08, 12/15/08
Dow Jones Support & Resistance Levels - December 15, 2008
Resistance Levels: 8750, 9000, 9026.41
Dow Jones Support & Resistance Levels - December 15, 2008
Resistance Levels: 8750, 9000, 9026.41
The Dow Jones continues to trade over 8500 despite attempted sell offs, very bullish! The Dow also continues to trade over the 10 day moving average. We hit 8150 in pre market futures and went up from there...this has been solid support for the Dow Jones. We now have support at 8500, 8350, and 8150 in which 8150 is very solid. 8150 has held four times in the past two weeks. It seems the Dow Jones is forming a nice base in the mid 8000's. Resistance: There are two strong resistance points, the 50 day moving average ( Red Line ) and 9000. If we can close over the 50 day moving average I think the Dow can break out of this range and start a new uptrend in a bear market in which 9650 could be tested.
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