Wednesday, December 2, 2009

20091202 1639 DJIA EOD Daily Chart Study.



The Dow closed firmer up 126.74 at 10471.58 and managed to test another high of the year at 10501.30. Yesterday wide range up bar candle ended near the upper Bollinger band but with the band width still getting narrower = market upward movement could possibly face some resistant near this level unless the band width started to turn outward. MACD Histrogram reversed upward by a little = buyer confident towards the market restored. Seems like buyer has yet to get enough out of this uptrend movement.

No comments: