Tuesday, December 21, 2010

DJIA on 21-Dec-10

The high of 11518 will remain a significant resistance the range between 11450 - 11520 will remain the trading range for DJIA before any meaningful breakout is spotted.

However, I still hold the view that DJIA will break out from this small range, and if you observe intraday 60 minutes / 30 minutes chart, you will see a symmetrical triangle formation in which support our view.
Breaking above this channel DJIA will advance to 11600, breaking below will test 1st support at 11330.

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