Sunday, August 8, 2010

How does DOW Look now?

Look at the Weekly chart of DOW. It is at present at the toughest resistance in 5 years (The thickest red horizontal line, automatically detected). Now it looks like forming a Head and Shoulders Pattern,

 

The H&S pattern is separately shown, due to the SAR (Support and resistance Lines) congestion in the chart.

 

Now what? This is the biggest question to be answered by next week.

 

Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.

MASTERSTROKES