Dow Jones Industrial Average Futures Forecast December 6, 2012, Technical Analysis

The Dow Jones futures rose during the session on Wednesday as the Dow Jones did well in general. We have cracked it back above the 13,000 level, and because of this we feel that resistance will be stepping back into the path of the buyers. With this in mind, we are actually buries even though it does look bullish at the moment.

Look at this chart, we can see that there is a significant amount of resistance between 13,000 and 13,200 or so, and as a result we are looking for bearish candles in which to sell. A shooting star in this vicinity would be an absolutely fabulous sell signal. However, we are willing to take any type of exhaustive looking candle or long red one. If we do manage to break above the 13,200 level though, we would have to admit this market is going much higher and start buying.