Several potential breakdowns in the Dow over recent weeks have turned around into further rallies, says Sandy Jadeja at www.spreadbettingtowin.com.
With the index now having cleared the 10538 level, the next resistance zone is at 10970. Some struggle may be evident at 10729. A dip below 10500 would suggest that a short-term top could be in place. There is no sign so far of momentum waning or that the uptrend is going to reverse decisively.
Sandy Jadeja is Chief Market Strategist 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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