Dow Jones Forecast for the week of August 27, 2012, Technical Analysis

posted
By FX Empire Analyst - Christopher Lewis
Print
Font Size
T
T
T
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The Dow Jones Industrial Average had a negative week over the last five sessions, but bounced from the 13,000 level in order to form a hammer for the week. Looking at this chart, it does look in fact like it once to break out, and a break of the highs from the week has us looking into blue-chip stocks on the Dow 30.

Look at this chart, and you can see that the lows continue to get higher over time. This is indicative of a nice uptrend, and as such there is talk of the Federal Reserve looking into easing rates as well. This should facilitate higher stock prices, and as such we are looking at buying. We see 13,000 as very supportive at this point in time, and wouldn't consider selling until we are well below that level.

Dow Jones Forecast for the week of August 27, 2012, Technical Analysis

Dow Jones Forecast for the week of August 27, 2012, Technical Analysis

Find a Broker
Continue to FX Empire Network