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Dow Jones forecast for coming week ended 16th November, 2012.


During last few weeks I was talking about medium term bearish pattern of Dow and now finally this week it reacts to some extent on that.

During last two days it looks to me that Dow is trying to make a base here so in early days of the coming week Dow may try to reverse from this range but I will be confident about Dow if it breaks 13000 levels. In fact chance of making couple of flat early days may not be ruled out.

But if Dow does not able to hold this level or it drops in the middle days of the coming week then around 12400-12500 will be a good support for Dow.

Dow did not drop much in the last day so the short-term bullish pattern which I talked about though that is not clear yet but that option is still there. I think that picture will be clear if Dow tests around 13200 in coming future.


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