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

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By FX Empire Analyst - Christopher Lewis
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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

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