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Dow Jones forecast for coming week ended 28th December, 2012.


Dow has triggered its bullish pattern to some extent but it looks like that now it may be due to reacts on a very short-term bearish pattern. If that bearish pattern works out then Dow may test below around 13000 levels and I think Dow may give a signal of that in early days of the coming week. During last few weeks Dow is making higher highs and higher lows trend but this week its moves were not very supportive towards that trend so now emphasis should be given on around 13100 levels. Here I must say that if Dow breaks that trend and goes below 13000 support ranges then it has the option of testing further lower levels to prove the bearish pattern which I talked in past weeks. I want talk about the bearish pattern when Dow will go towards 12600 ranges.

On the other hand if Dow maintains 13100 in short-term and 12500-12600 support ranges for medium term then there is a good probability that Dow may make bullish patterns.


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