Dow Jones Industrial Average Forecast August 31, 2012, Technical Analysis

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 session on Thursday as traders around the world took profits ahead of the Jackson Hole speech by the Federal Reserve Chairman later today. As we head into the longer weekend in America, many of the traders have simply flattened their positions ahead of the weekend and speech. Because of this, we did see a fall, but it should be noted that we manage to find support at the 13,000 level. This area is very supportive from we can tell, and we would be willing to buy some type of supportive candle at this point be of the futures, or some of the higher beta industrial names such as CAT, etc.

 

Dow Jones Industrial Average Forecast August 31, 2012, Technical Analysis

Dow Jones Industrial Average Forecast August 31, 2012, Technical Analysis

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
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.

  View all of FX Empire Analyst - Christopher Lewis's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.