The Dow closed higher on Tuesday as it extends the rally off the 2009 low. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term.
If the Dow extends the aforementioned rally, monthly resistance crossing at 13,136 is the next upside target. Closes below last Monday's low crossing at 12,093 are needed to confirm that a short-term top has been posted.
First resistance is today's high crossing at 12,605. Second resistance is monthly resistance crossing at 13,136. First support is the 20-day moving average crossing at 12,368. Second support is last Monday's low crossing at 12,093.
HAPPY TRADING & GOODLUCK2ALL
No comments:
Post a Comment