The following is Technical Analysis for the Dow Jones ( DJIA ) for 3/23/09Dow Jones Support & Resistance Levels - March 23, 2009
Resistance Levels: 7500, 7695, 8000
Support Levels: 7200, 7152, 7000
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The Dow Jones hit major resistance at the 7500 level and failed to close above this area. The Dow will now be retesting the 10 day moving average next week under 7200. This will be a big test, a close under this level for a few days could set up the Dow to test the 6800-7000 level. If this rally was for real, we will hold 7100 and not break down again. On the upside, I will be getting long on a close above 7500 as a new break out will occur. Next week will be a real test for all the major averages. For More Technical Analysis - Go Here
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