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Dow Jones forecast for coming week ended 2nd November, 2012.

Dow has reacted on its short-term bearish pattern and as I was telling in my past reviews that if Dow tests around 13000 levels then it will give strength to its medium-term bearish pattern. 
Now if that medium term bearish pattern is true then Dow may show little more up moves and the base which it is making during later days of this week may also be suggesting that but that is definitely not above 13600 levels, may be around 13300–13400 levels. The pattern which I am talking about is not totally clear but if it fully reacts then Dow may test up to 12400 levels.

If this base or around 13000 support levels don’t work out then Dow may drop from 13000 levels in around middle days of the coming week, in fact in that case Dow may give flat movements in around 13000 to 13200 levels in early days. All these are probable predictions and things may become different if Dow starts dropping from 13000 levels in early days of the coming week.

On the other hand if this base around 13000 works out and Dow again tests 13600 levels then it has a chance of creating short-term bullish pattern but it needs more time.

NOTE Please see the disclaimer of this blog.


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