Thursday 9 May 2013

The mighty DOW

All bears are exhausted from trying to call the tops. All bulls are exhausted (ok maybe less than bears) from thinking of when to get out. DOW has been the worst bear hunter of all but even DOW can fall for a while. The perfect red channel is showing a resistance was hit just today. I showed many points of this middle line playing support and resistance in the last 4 years and this one may play out too. For this resistance to hold, the prices should not go much beyond 15140. The negative divergence on RSI is remarkable on daily and weekly charts. 

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