Dow Jones Industrial Average August 27, 2012, Technical Analysis

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The Dow Jones 30 did very well during the Friday session, bouncing from just above the 13,000 level in order to close at the absolute highs of the day. Looking at this market, it does seem like it once to attempt to break above the 13,300 level, and as such we think that the blue-chip average should have a good couple of sessions going forward.

Without a doubt, Friday will be the most interesting day of the upcoming week as the Federal Reserve Chairman Ben Bernanke is giving a speech in Jackson Hole, Wyoming that could be where he decides to hands that monetary easing is coming in September. If that happens, this market should shoot straight up. As for selling, we need to see the 13,000 level give way to the sellers in order to even consider it at this point.

Dow Jones Industrial Average August 27, 2012, Technical Analysis

Dow Jones Industrial Average 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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