Dow Jones Industrial Average Forecast October 12, 2012, Technical Analysis

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The Dow Jones Industrial average fell during the session on Thursday as the markets continue to feel a bit of malaise. The 13,250 level continues to hold as supportive though, and as such we think that this general vicinity will more than likely cause some type of bounce. If it does not, this would of course be a very bearish sign and we think this would lead to the 13,000 level.

It is underneath the 13,000 level that we think things get ugly in a short order. At that point time, we would be short the futures market, and possibly buying some of the inverse ETFs that follow this index. As for buying, we simply need to see some type of supportive candle in that general vicinity that we are trading at right now.

 

Dow Jones Industrial Average Forecast October 12, 2012, Technical Analysis

Dow Jones Industrial Average Forecast October 12, 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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