Monday, February 22, 2016

Bullish Dow

The Dow Jones Industrial Average rallied today as we can see on the daily chart. The Dow breaks above the 16424 and it seems like it is completing a double bottom pattern. If the index continues rallying during this week, it may try to visit the 200 day exponential moving average, around the 16988 level. That 200 day EMA may act as a resistance. If the Dow breaks below the 16424, then the latest low at the 15365 may act as support.


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7 comments:

  1. UnknownFeb 23, 2016, 5:20:00 AM

    Looks like a double bottom.

    ReplyDelete
  2. UnknownFeb 23, 2016, 10:09:00 AM

    Thank you for the helpful analysis.

    ReplyDelete
  3. UnknownFeb 23, 2016, 11:27:00 AM

    It is most likely to occur some profit taking for today and tomorrow may try a new test to the resistance zone.

    ReplyDelete
  4. UnknownFeb 23, 2016, 2:22:00 PM

    Great analysis!

    ReplyDelete
  5. UnknownFeb 24, 2016, 2:16:00 PM

    I agree with your useful analysis.

    ReplyDelete
  6. RozenFeb 26, 2016, 3:53:00 PM

    Good article, thank you for sharing your view.

    ReplyDelete
  7. UnknownFeb 28, 2016, 3:49:00 PM

    Great analysis.

    ReplyDelete

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