Dow Jones Weekly Analysis
As we predicted in last edition of this Dow Jones Weekly Analysis, Wall Street has slid for two straight weeks amid concerns about the strength of the global recovery. This week is another rocky journey for investors, as investors are beginning to worry a bigger selloff could be brewing. The coming wave of corporate earnings reports could offer some direction for stocks. What will happen to Dow Jones in October? This article will analyze what will happen to Dow Jones this week
Chart below shows Dow Jones movement until Fiday 2nd October 2009. Dow Jones closed at 9478.67.
In long term, Dow Jones still in uptrend price channel. In short term period, William %R indicator shows that Dow Jones is already oversold. It's going up, rebound after two weeks sell off. Stochastic Slow also indicates Dow Jones going up again. But, I guess after some rebound, Dow Jones still has some probability to hit new low again. For awhile, enjoy the rebound..
Support = 9500 / 9437 / 9262
Resistance = 9641
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