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Saturday, February 9, 2008

Dow Jones Industrial Index Indecision Candlesticks Patterns


Inverted hammer candlestick formation followed by spinning top and finally a clone hammer and spinning top pattern combination. The last 3 candlesticks formation indicates market indecision and it is waiting for clearer direction from the bulls or the bears. Price rally will probably be capped by the black downtrend resistance line. Support Failure at 12103.4 will result in bears testing next support at 11644.8. If this support also fails the next major support will be the Green Parallel Support line.

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