Wednesday, April 23, 2008

Dow Jones Industrial Index Hanging Man Candlestick Pattern Confirmation

With the down bar candlestick formation after the hanging man candlestick chart pattern more downslide is expected. The mid Bolinger Band support at 12531 will be the support that traders will be monitoring for possible rebounce. In case of unexpected upward movement the immediate resistance is at the black downtrend resistance line followed by the recent peak at 12894 .

No comments: