Saturday, February 23, 2013

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

Dow’s close above 13800 in last few days was a good sign, now I feel that if Dow can maintain this 13800 range then it has stronger chance to break 14000 level in coming week and I am expecting that in early to middle days of the coming week. Previously I was not sure about more up moves above 14000 but after this week’s small correction Dow has that possibility in the upside.

If Dow fails to go past 14000 level or just show small up moves then it has a chance to test 13800 level again and in that circumstance it may make a bearish pattern. If this bearish prediction becomes true then Dow may test around 13600 ranges. 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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