Thursday, April 30, 2009

Channel break out on DOW

Yesterday DOW broke the resistance line of the channel and closed above it, but volumes are low and not supporting to conclude this as clear break out. Next few days will be very crucial. If the price continues to move up or retests the channel and move up with volumes support it will be clear positive signal, else the break out may turn out as a false one and DOW may go down to test the channel support line.

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