Dow Jones Industrial - Inverted Hammer - June 14 2010
The Dow Jones Industrial Average had a nice run up today and by the end of the day, the bears won and took back the gains.
The DJIA also penetrated the short term channel resistance and touch the 200 day moving average and closed below them both.
The daily candlestick is an inverted hammer.
It looks like the DJIA have failed to breakout of the current channel and we could be revisiting the lower resistance of the channel in the next few days.
The S&P 500 chart has the same formations and technical analysis.
Leave a Comment
If you would like to make a comment, please fill out the form below.
You must be logged in to post a comment.
Recent Comments