WhatsUpDow
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WhatsUpDow?
15-12-05
Wide range yesterday of 10820.3 to 10919.8. Gains were limited as the index lost steam after breaking up the 109-bigfigure to close at 10883.5 probably due to long covers. The index broke out from last week’s high and upside resumption is expected. Our Long position at 10873 is executed and Stop adjusted to 10765 to reduce risk to 108 points for this bet.
Despite the tug-of-war market since Monday as indicated by a High wave candle, stochastic looks bullish. We have a Opening Long Candle yesterday indicating bull strength. The index diverted to a high of 10919.8 and managed to close and stay above 20MA which offers minor support. A break below that could test the purple base support at the 10720-30 level while resumption of trend could well see Dow at 11000 and more.
15-12-05
Wide range yesterday of 10820.3 to 10919.8. Gains were limited as the index lost steam after breaking up the 109-bigfigure to close at 10883.5 probably due to long covers. The index broke out from last week’s high and upside resumption is expected. Our Long position at 10873 is executed and Stop adjusted to 10765 to reduce risk to 108 points for this bet.
Despite the tug-of-war market since Monday as indicated by a High wave candle, stochastic looks bullish. We have a Opening Long Candle yesterday indicating bull strength. The index diverted to a high of 10919.8 and managed to close and stay above 20MA which offers minor support. A break below that could test the purple base support at the 10720-30 level while resumption of trend could well see Dow at 11000 and more.
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