Dow Jones Industrial Average Forecast for the week of September 3, 2012, Technical Analysis
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The Dow Jones Industrial Average fell during the week for the second week in a row. However, it did find support at the 13,000 level in order to form a hammer for the second week in a row. This looks very supportive, and it seems that it is only a matter time before the markets breakout to the upside. In fact, if we manage to break above the highs from the previous week, we are more than willing to start buying blue-chip stocks again.
Some of the ones that are most heavily exposed to commodities and mining/construction are the ones that we are most interested in. However, in the current environment it may simply just be easier to buy Dow Jones futures. As for selling, we aren’t interested in till we get well below the 13,000 level.
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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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