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Dow Jones Analysis on September 21 2012 for Dow Futures

Written By Unknown on Monday 24 September 2012 | 7:27:00 pm

Dow Jones was on the decisive stage last week whether to continue bullish or retrace and break the support line at 13570..








1 ) Trendline - Above the bullish trendline (Bullish)
 2)  Support/Resistance - formed Higher high and all high( Bullish)
3) MACD - Waiting for 4R1G for bullish confirmation and now currently in bearish mode (Slightly Bearish)
4) RSI - Over turn and retracing slightly toward 70% ( Slightly Bearish) but if observed carefully it is retracing. Watchout if it goes near back to 70% because currently it is a overbought position which means profit taking will take in place
 5) STO - Bull and Bear Signal Fighting with each other . Waiting for a clear signal..
6) Ichimoku -  a) Above  support cloud (Bullish).
                       b) Conversion line above the base line (Bullish.
                       c) Price above the baseline ( Bullish)
7) Candlestick - Shooting star was formed (Slightly Bearish) and waiting for a bearish continuation or another bullish reversal..

Conclusion:
Bullish

Resistance at  13932 / 14156 / 14338
Support at 13570/13348/ 13242/ 12984 / 12803
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