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City Trades: Dow Jones (DJIA)

Created:
19 August 2008
Written by:
Sandy Jadeja

My fears that the Dow might struggle to get above resistance at 11,700 have been borne out, says Sandy Jadeja at www.spreadbettingtowin.com

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The resulting drop below a pivot level suggests the possibility of a larger-degree move down. A break below 11,434 would intensify this risk, with a target of 10,700 further out. The softening of oil prices has not yet had the hoped-for effect in equities. I expect volatility will remain with us for some while to come.

Sandy Jadeja is Chief Market Strategist for ODL Markets and founder of www.Spreadbettingtowin.com where he teaches low risk trading strategies and money management.

IC Trades are written by Investors Chronicle writers. City Trades are written by selected external contributors. Both are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.

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