Sunday, June 12, 2011

Technical Analysis June 2011: US Market Outlook

Dow Jones Industrial Average
NYSE, New York Stock Exchange

Observation From Chart:

Since Sept 2010, Down Jones & NYSE break up MA200, it never retrace down to retest this level.
It do alway trade above MACD positive region.
So, we may see a 8 months bull run.

This round, it already break below MA100 support level.
As 10 June 2011, no reversal sign been formed.

Will it future break down MA200 support level?

Short term outlook:
1. Formed Head And Shoulders Pattern
2. MACD trade at negative region, it is a downtrend sign.

However, there should be a technical rebound soon.

Let watch closely for entry opportunity.

Pls buy at your own risk & consult your broker b4 make any buy or sell order!!!


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