Dow Jones Forecast

Dow Jones Daily Chart
Dow Jones - Daily
Dow Jones Industrial Average has been into a bearish trend recently and did come to a close of 13,344.97 on the 10th of October 2012. A clean reversal from the H3 Camarilla
level clubbed with a gann reversal made the index turn towards th south on the 8th. The index is standing in a weak zone as far as Camarilla levels are concerned and we can expect some support at the L3 level of 13251.2. This support, once broken will take the index further down towards the L4 support level of 13065.2, as can be seen from the charts.

Dow Jones IEOD Chart
Dow Jones - Hourly

Gann reversal dates for the trend that begun on the 8th of October 2012 are 2 / 6 / 14 / 18 trading days counted from the 8th and the following calendar days :
10th / 14th / 22nd / 26th October 2012
Hourly charts for the index have a clear indication of the losses that the index will be making in the next few sessions. A recent penetration into a 2 - 4 Wolfe support line triggered the downfall and is likely to continue until it reaches the 1 - 4 target. Wolfe Waves are not prominent on the end of day charts though.

Get Finance Updates on Email

No comments:

Post a Comment