The following is Technical Analysis for the Dow Jones ( DJIA ) for 1/16/09Dow Jones Support & Resistance Levels - January 16, 2009
Resistance Levels: 8350, 8500, 8765
Support Levels: 8150, 8000, 7965
http://stockcharts.com - Chart
http://stockcharts.com - Chart
The Dow Jones bounced 250 points off the support level of 8000 today. This is bullish action because it shows you where the buyers are located. Expect this to happen again if 800 is tested. Right now, there is some support at the 8150 level, a level we haven't closed below since November. On the upside, look for selling to hit the market when we get near 8500 and the 50 day moving average ( 8598 ). These will be major resistance levels.
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