Friday, March 02, 2007

$INDU Chart Analysis for 03022007

Monthly chart shows the following:
1) February 2007 is 2.618 fib in time
2) Index made a 1.618 fib extension target
3) Bearish Engulfing Candle indicating change in investor sentiment.

Weekly chart shows reversal candle pattern with confirmation. Current support is right off the 34ema.

Daily chart shows price to be now below the 89sma. 200sma is below at 11,782.11

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