Dow Jones Industrial Average Forecast October 8, 2012, Technical Analysis

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The Dow Jones Industrial Average had a bullish session on Friday, but gave back much of the gains in order to form a shooting star. This shooting star is at the 13,600 level, which of course has been overly resistive lately. Because of this, we think that there is a serious pressure to the upside but it is been met with significant resistance. Normally, this means that the market will eventually breakout and bust through current levels. With that in mind, we are buying pullbacks as we think it’s only a matter of time.

 

Dow Jones Industrial Average Forecast October 8, 2012, Technical Analysis

Dow Jones Industrial Average Forecast October 8, 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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