Dow Jones Industrial Average Forecast October 5, 2012, Technical Analysis

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The Dow Jones Industrial Average rose during the session on Thursday as the 13,400 level continues to offer support. However, the 13,500 level is somewhat resistive, and we see the 13,600 level as resistive also. We essentially feel that we are in consolidation, and as such that the market isn’t really ready to continue to plow higher until we clear the 13,600 level on a daily close.

We do have an uptrend line that is working with the buyers of this market, and as such we certainly don’t want to sell it. In fact, with all of the possible volatility if you had to get in the market right away and you would be best served by the ETF market. The binary options market is a possibility as well, but regardless of which way you choose the play this index, you should be expecting higher prices.

 

Dow Jones Industrial Average Forecast October 5, 2012, Technical Analysis

Dow Jones Industrial Average Forecast October 5, 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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