Anticipated range trading between 11.1k-11.5k. Actual price move for the past week was almost the same.
Past 2 weeks volatile range of 11698-11125, prima facie, is nothing but a ‘shakeout’ process to keep “weaker” hands out.
The bulls are likely to defend 11.1k, in the near to medium term. Before that, 11250-11300 is a strong base for the bulls to push the index higher.
Expect a steady up move towards 11810 & then .50% fib level of 11980 in the next few trading sessions
August 4, 2008
Positive > 11125.Stop 11.1k (cl)
Dow Jones Industrial Average 11326
Anticipated range trading between 11.1k-11.5k. Actual price move for the past week was almost the same.
Past 2 weeks volatile range of 11698-11125, prima facie, is nothing but a ‘shakeout’ process to keep “weaker” hands out.
The bulls are likely to defend 11.1k, in the near to medium term. Before that, 11250-11300 is a strong base for the bulls to push the index higher.
Expect a steady up move towards 11810 & then .50% fib level of 11980 in the next few trading sessions
Anticipated range trading between 11.1k-11.5k. Actual price move for the past week was almost the same.
Past 2 weeks volatile range of 11698-11125, prima facie, is nothing but a ‘shakeout’ process to keep “weaker” hands out.
The bulls are likely to defend 11.1k, in the near to medium term. Before that, 11250-11300 is a strong base for the bulls to push the index higher.
Expect a steady up move towards 11810 & then .50% fib level of 11980 in the next few trading sessions
