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

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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

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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