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Dow Jones forecast for coming week ended 27th July, 2012.

Still it is not clear to me whether DOW is going to trigger its short-term bullish pattern! Because though it remains above 12750 but it was unable to close above around 12990 (or better to say 12969 level), in fact in the last day it dropped from that level.
So that means DOW is still keeping options in both the sides. In early days of the coming week if DOW maintains that initial support levels then again it will create a hope of triggering its bullish pattern but for that it needs to cross 13000 level convincingly.

On the other hand if it drops below 12750 level then 12600 level will act as a good support for it. Though DOW has chances to react on its patterns but basically DOW is moving side based with higher lows (or higher closings). So if it follows that then it may try to bounce again from around 12600 level. But if it drops below that then there is a chance that it may react on its bearish pattern which can take it towards 12000 level.
       
Here I must say it again that in my past postings I told about a medium to long-term bullish pattern of DOW which it may trigger by breaking around13300 level and if DOW crosses 13000 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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