Saturday, October 22, 2011

DowJones gives bullish breakout | 22-Oct-2011

 


Here is the updated technical chart of DowJones using Ichimoku Kinko Hyo indicator.


 


 


This is the perfect example of bullish kumo breakout as per ichimoku indicator. The Price CLOSES above kumo as well as Chikou Span (CS) also managed to CLOSE above kumo. That means both the major components have been able to cross the major resistance.


Now, one can take long position here with a stop loss of kumo figure i.e. 11676. Don't forget to close all your short positions at this stage, if any. Will update next chart in next few days.

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