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Technical forecast for Dow Jones

By () · May 28, 2013 · Comments Off on Technical forecast for Dow Jones
Indices · analysis, binary option, buy sell, candlestick, charts, day trade, day trading, down trend, fibonacci, forecast

Mini Dow beat resistance at 15328/38 as we look for 15377/400. Try shorts here with the market starting to look overbought in the short term with stops above 15450 for a retest of 15500/525 highs. The daily chart remains negative so this should offer a very good selling opportunity with a bearish double top pattern expected.

Immediate support is 15333 then 15288/256. This level could hold the downside today. However a break lower sees 15181 then last week’s low at 15143. We have good support from here down to 15090 with a bounce expected here this week if seen.

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