The following is Technical Analysis for the Dow Jones ( DJIA ) for 2/3/09Dow Jones Support & Resistance Levels - February 3, 2009
Resistance Levels: 8000, 8113, 8400, 8500, 8765
Support Levels: 7900, 7867, 7774
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The Dow Jones broke below 7900 today before snapping back into the close. We haven't been below 7900 since Mid November of 2008. The down trend looks to be continuing and the next support level after 7900 is the Hogan Bottom low of 7773.71. Rallies back above the 10 day moving average should be sold unless we close back over 8400 which would be a reversal signal. A close above 8500 would be really positive but I don't see that happening for a little while. The new trading range could very well be between 7500-8000. For More Technical Analysis - Go Here
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