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Dow Jones forecast for coming week ended 20th July, 2012.

Last week I was suspecting that DOW has a chance of making bearish pattern if it touches around 12400 level and looks like it is keeping that option open. It may take more time to trigger that pattern and during this time another up move is quite expected but that may be below 12990 level. If it goes more than that then it will negate the bearish pattern and may trigger the bullish pattern which I mentioned in past week.

So in brief DOW needs to make good moves above 12750 levels for better days otherwise there is a chance of drop which can take it below 12000 level.
Here I must mentioned it again that in my past postings I was telling about medium term bullish pattern of DOW which it may trigger by breaking around13300 level and if DOW crosses 12900 level and triggers its short-term bullish pattern then the chance of making that medium term bullish pattern will be stronger.



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