The following is Technical Analysis for the Dow Jones ( DJIA ) for 2/5/09Dow Jones Support & Resistance Levels - February 5, 2009
Resistance Levels: 8000, 8125, 8400, 8500, 8765
Support Levels: 7867, 7774, 7500
http://stockcharts.com/ - Chart
The Dow Jones tested its 10 day moving average today and failed to close above this area. The Dow also failed to close above 8000. These two things are very bearish and we could go down to retest Monday's low of 7867.
If 7867 is broken, the next support is the Hogan Bottom at 7773.71 and the Timothy Geithner Bottom of 7449.38.
As soon as we get back over 8500, I will turn back into a bull...but we have a long way to go!
If 7867 is broken, the next support is the Hogan Bottom at 7773.71 and the Timothy Geithner Bottom of 7449.38.
As soon as we get back over 8500, I will turn back into a bull...but we have a long way to go!
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