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.

Wednesday, November 26, 2008

DJI - Where is uncle Jones heading to?

DJI has closed at 8479 on 25 Nov 2008.

It is currently supported at 8175 followed by 7552 (recent low). Current resistance is at 8567, followed by 8800. If it manage to break its top trend line at around 8800, next resistance will be at 9253, followed by 9625. Very strong resistance at 10,000.

MACD is currently showing a bullish divergence, it need to clear the resistance at 8800 first to show some short term bullishness. But take note that market is still fundamentally weak, any rebounce likely to be short term.
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