The following is Stock Market Technical Analysis for the Dow Jones ( DJIA ) for 12/5/08
Dow Jones Support & Resistance Levels - December 5, 2008
Resistance Levels: 8500, 8675
Support Levels: 8359, 8150, 8000
The Dow Jones tested Friday's low of 8675 which was resistance but failed at 8632 and sold off back to the 10 day moving average. Like the Nasdaq, this has been the trading range lately. The Dow managed to close over the 10 day moving average so things are still looking bullish. Resistance is at 8675 and 8831... Support is still the 10 day moving average which will spike tomorrow to around 8390. There is also support between 8150-8175. A close below 8000 at any point could start a new leg down. Friday's Jobs number will be huge and it could set the tone for the next several weeks.
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