Sense & Guts - Technical Analysis Headline Animator

Sense & Guts - Technical Analysis

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What is Technical Analysis?

Technical Analysis is the forecasting of possible future price movements based on the past or historical records. Like other forecasting methods, it is using the past to determine the possible future, although the result may not be 100% accurate but it helps investors to anticipate what is the possible price movements ahead.

Technical Analysis is used by many investors and fund managers. It helps them to determine the trend of the market and individual stock, as well as the timing for entry and exit in their investment.

Thursday, July 31, 2008

Dow Jones Index in Short Term Uptrend

DJI has formed a higher low which means that a short term uptrend is established. Next resistance will be at around 11820. If it manage to clear this resistance, next resistance will be at 12000, 12400 and the major resistance is currently at around 12700, which is its long term top trendline.

Looking at a bigger picture, DJI is still in a long term downtrend. It need to break the long term top trendline in order to reverse the long term trend.
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