Saturday, January 26, 2013

Dow Jones forecast for coming week ended 1st February, 2013.

As I was suspecting in last week that if Dow maintains 13600 range then there is good chances of testing higher levels. Though I said that Dow may test levels above 13800 but if we see recent trend then Dow has a chance to test around 14000 levels. In the last few days Dow’s movements have not indicated about the top so unless we get a hint of that I am not sure about imminent correction.

On the other side Dow is showing positive moves during last two weeks so if any short-term reversal comes then important level is 13600. In last few months Dow showed near about 61.8% retracement so now if Dow follows the same trend then it may go below 13300.

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