Monthly chart shows potential evening star reversal pattern. Long bottoming tail indicates early buying activity. Monthly close is right at the 8ema. Move up into current high has been made with divergence in momentum indicator.
Weekly chart shows bulls found support off the .886 fib level. Buyers came out in force last week, closing the weekly activity right at the 8ema.
Daily chart shows more clearly the support off the .886 fib level. Friday's price action found resistance at prior support and .500 fib level.
Saturday, December 01, 2007
$INDU Analysis for 12.02.2007
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