I had writen in http://jerrytechnicals.blogspot.com/2009/11/technical-analysis-dow-jones-djia.html
that 10420 to 10500 will be supply zone for dow as per charts. See where dow reversed from :-)
For Dow short term trend to move to positive now, a close above fibonacci resitance zone of 10569 is absolutely
essential. Will the bulls be able to pull that one off ?? Only time will reveal.
For now Dow looks all set to attain logical targets of 10105, 9773 and 9845 in the coming week.
As mentioned earlier, only a close above 10569 will turn the short trend back to positive for dow.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
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