Anticipated near term move towards 11810-11980, but so far achieved 11759.
Failure to post immediate “close” above 11759, i.e. last week’s high, will halt the rally & we may witness a sideways trading (with positive bias) before taking a next directional view, else a move towards target objective.
On the downside, only a close below 11430 will weaken the structure further & in that case it can retest of 11.2k.
In short, if failed to head higher (>11759) expect a range trading between 11.7k-11,2k within the overall corrective structure (uptrend).
August 11, 2008
Positive > 11520.Stop 11490(cl)..
Dow Jones Industrial Average 11734
Anticipated near term move towards 11810-11980, but so far achieved 11759.
Failure to post immediate “close” above 11759, i.e. last week’s high, will halt the rally & we may witness a sideways trading (with positive bias) before taking a next directional view, else a move towards target objective.
On the downside, only a close below 11430 will weaken the structure further & in that case it can retest of 11.2k.
In short, if failed to head higher (>11759) expect a range trading between 11.7k-11,2k within the overall corrective structure (uptrend).
Anticipated near term move towards 11810-11980, but so far achieved 11759.
Failure to post immediate “close” above 11759, i.e. last week’s high, will halt the rally & we may witness a sideways trading (with positive bias) before taking a next directional view, else a move towards target objective.
On the downside, only a close below 11430 will weaken the structure further & in that case it can retest of 11.2k.
In short, if failed to head higher (>11759) expect a range trading between 11.7k-11,2k within the overall corrective structure (uptrend).
