In my last week review I was not totally sure that DOW will cross 13200 level but as I said that it is in over-sold zone, so there was a chance of that. It is good to see that it did not drop in later days of this week.
Now the early days of the coming week will be very important for DOW, it is in short-term over-bought zone but still it can test higher levels. I am saying this in spite of the fact that last day it made an uncertain figure. So even if it remains flat in Monday, I think it may decide the trend in next day.
If DOW gets down in early days of the week then important level to watch is 13000-13050. I think even if it tests that level, there is a chance that it may bounce into higher levels from that range. Here I must say that I am not sure that whether this 13300 level is good for making short position.
Now if it drops below 12900 then there is a possibility that it may test level below 12700, though this is subject to new bad news. Worse case scenario for DOW is 11600.
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