Technical Analysis: Dow Jones Industrial Average: towards 12,285 points!


The Dow Jones Industrial Average is the oldest stock market index in the world. It includes, in an «equal-weighted»manner, the thirty largest listed stocks in the USA. Despite the crash this summer, the strong support zone at ....

Day By Day – Indipendent Research

…10,610-10,800 points contained prices and allowed the construction of a strong upswing. We are positive in the medium-term, and anticipate rallying towards the previous peaks in the weeks to come.


Anticipation  :
In the shorter-term, the impulse that followed the brief excess below the support at 10,610 points allowed the index to rise above the 11,642 level, corresponding to the lower threshold of a 50% retracement of the violent decline of last August. The prices are now consolidating between this solid support and the resistance at 12,285 points . The dynamic clearly remains bullish; a further decline in the vicinity of the support at 11,642 points – now reinforcedby the 50-day moving average- could be used to play a rebound towards the upper threshold of this interval.
We are therefore positive in the short-term and envision a contact with the resistance at 12,285 points in the next sessions.
We set the invalidation threshold for this positive scenario slightly below the support at 11,642 points.

Close price 12153.68

2 months Opinion BULLISH
2 weeks Opinion POSITIVE

Resistances 12285 / 12590 pts
Supports 11642 / 11340 pts

Follow-up Analysys: Our DBD Tracker dated 24/10/2011 recommend the purchase of the Russia RTS index. Since then, prices have reached our target of 1527 points, a performance of 4.6%.


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Source: ETFWorld – Day By Day – Indipendent Research



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