Monday, June 4, 2012

DJIA on Mon 4-June-2012

Our forum is down and so i will be sharing in my blog and twitter only..

market has confirmed the bearish sentiment with DJIA fallen below 12300.
last friday, djia shed 274.88 pts and close the week at 12118.57 pts.

with the bad economic data on NFP, unemployment rates, and euro zone turmoil, I reckon DJIA to continue trading down to target price 11850-11900.

From hourly chart, DJIA is trading near oversold region and therefore we expect a little bit up pull up to 1/3 of the day range (50 pts) before trading down again.


Day Trade:
For YM on Broco chart, which is trading at 12038 now, we at Ayumi the Novice Trader expect market to move up to 12110, preferably coupled with overbought signal in 30 minutes chart, and/or a reversal candlestick pattern to initiate short trade.

SL 50 pts away, Target exit 150 pts.

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