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Dow Jones forecast for coming week ended 12th October, 2012.

Dow is still struggling to cross 13600 levels. Last week I was talking about a very short-term bearish pattern if Dow does not able to cross 13600. I am still maintaining that approach if Dow fails to do that in coming week. Here I must say that if Dow is able to maintain around 13600 levels in early days then there is a chance that it may cross it in later days of the coming week. Though last day’s close was not good comparing to its high point so now all the upside movement depends on breaking 13600 levels.

Dow has already triggered its bullish pattern and as I said in past that it may take time to react on this pattern because it is not a straight one. If Dow breaks 13600 then 13800 is its next strong resistance, Dow can go up to 14200 if it fully reacts on this medium term bullish pattern.

On the other side if it again fails to cross 13600 level then that short-term bearish pattern may trigger which can take it towards around 13200 level. It has initial support level at 13300 and I will think about another bearish pattern if it drops around 13000 level.


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