Tuesday, December 1, 2009

20091201 1700 DJIA EOD Daily Chart Study.



The Dow closed marginally higher up 34.92 at 10344.84 with high volume traded. Daily chart wise, yesterday doji bar candle tested below but managed to closed above the middle Bollinger band with the band width squeeze tighter = market is like to trade side way range bound with seller trying to test the market buying interest. MACD Histrogram reaching a lower low = there are more seller participation compare to buyer. All indicators still suggesting a side way range bound market for the Dow. Support stands at the middle Bollinger band follwed by the 2 plotted lines.

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