Wednesday, October 19, 2011

DowJones Technical chart | 19-Oct-2011

 


Below is the technical chart of DowJones with Ichimoku indicator.



Like FTSE 100 chart explained in my last post, the same story repeats here. The price is trying to cross kumo, but bears are not allowing it. On the other hand, Kijun line is also flat. That means price can come down to the level of around 11000, which is its immediate support level. On the upper side, the major resistance, as shown by kumo, is at around 11,700. Watch these 2 levels carefully. Take long or short position ONLY if the price CLOSES above / below these levels.

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