Dow Jones Near Resistance - 16th Sep 09

Dow Jones Chart - Daily:

Dow Jones near resistance, it is sticking to that trend line from past 2 months. It is not breaking that line, 9800 is the resistance for today. If Dow gives break out above this line then it may move up with more thrust. But volumes are slowly decreasing in the up move which is not favoring bulls.

Expanding Triangle in DOW - 25 Aug 09

DOW Jones Chart - Daily:

Dow Jones formed Expanding triangle in price pattern, yesterday it touched the the resistance line and formed a candlestick doji, shooting star on top. We may see some pull back in DOW. If it gives the breakout from the resistance line it may move much higher to reach the target of the Expanding triangle.

Head and Shoulders in Dow Jones - 15th Jul 09

Above is the Daily chart of Dow Jones marked with Head and shoulders pattern, prices moved above the neckline. One can clearly see that the breakdown didn't happen properly and this present up move is obvious. This present up move is also not with good volumes, so there is an equal chance of forming a second right shoulder here. If this pattern fails we may see good up moves in near future.

Head and Shoulders in Dow Jones

Dow Jones, formed a Head and shoulders in daily charts. Volumes are decreasing, which is Ok for head and shoulders. Yesterday it closed right at the neckline support, but big down fall happened with low volumes. If the neckline is broken is with good volumes Dow may see 7600 levels. This can be a retest to the channel, also there is a possibility of forming an inverted head and shoulder if it moves up with good volumes.

Below is the Daily chart of Dow Jones.

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.