DOW JONES Index Chart Technical Analysis, Graph Forecast, Trading Strategy - Index moving up from strong support, will favor bulls as long as holds above, Dow Jones can see further strength once closes above 17162. (Updated on 12th September 2014, Friday).

DOW JONES

• As per previous report published, Dow Jones index gave a sharp bull rally from its major trend line support which was around 16350 and so far made a high around 17150. (Click here to see previous report published on Dow Jones).
• Now as per current technical analysis chart no1, Dow Jones Index is moving up from 23.6% fibonacci retracement support zone, as long as trades above bulls will be favored , if by any chance it closes below its support then Dow can come to its next support at 38.2% fibonacci retracement. On upper side Index is facing trend line resistance @ 17162, Once Dow closes and stays above 17162 then it will be on bulls grip and further strength is expecting.
• Suggested Reading - Investing in penny stocks.
• Intraday tips - Close watch if Dow starts trading above 17162, if holds above 17162 then intraday bulls action is expecting.
• As per graph no2, Dow Index moved up from 100 days moving average as long as holds above short-long term traders will be favored.
• Also See - COMEX GOLD heading for strong support, last hope for bulls, further weakness expecting if closes below its previous bottom.
• As per chart no3, Dow Index is moving up from 20 days moving average , if stays above 20 DMA then Index can test upper bollinger band.
• As per technical chart no4, If Dow Jones moves up from current levels and closes above its resistance @ 17162 then will find next resistance around 17650 its 161.8% fibonacci retracement. Close Watch.
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