Dow Jones Industrial Average Forecast September 24, 2012, Technical Analysis

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The Dow Jones Industrial Average had a negative session on Friday after initially being positive. The resulting action forced the market to print a shooting star, and it does look like we’re basically getting conflicting candles over the last week or so. This doesn’t suggest a pullback in our eyes rather that we are going to consolidate in this vicinity for the time being.

This of course makes sense to us as the market has risen so much over the last couple weeks. We think that eventually the market breaks higher, but on a pullback we would also be willing to buy futures in this market as the trend is most definitely to the upside.

 

Dow Jones Industrial Average Forecast September 24, 2012, Technical Analysis

Dow Jones Industrial Average Forecast September 24, 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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