Friday, November 20, 2009

20091120 1452 DJIA EOD Daily Chart Study.



Correction took place on the DJIA yesterday pushed it down 93.87 points to closed 10332.44 with higher volume traded. Despite closing lower, Bollinger band reading still suggest an upward movement market. However, seller aggressiveness forced MACD Histrogram to retreat lower. Overall the Dow is still in uptrend with possible further correction. Immediate support stands at the middle Bollinger band level with the next support at 10120 level.

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