US Market Indices Review: Dow Jones Industrial, S&P500, NASDAQ

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Dow Jones Industrial ($DJI)

  • Chart Pattern: Head and Shoulders (Bearish)
  • Resistances: 11,900 (50D MA); 12,000 (200D MA)
  • Supports: 11,482 (78.6% Fibonacci Retracement Level); 11,230 (20D MA)
  • Trend: Start of Down Trend.

 

S&P500 ($SPX)

  • Chart Pattern: Head and Shoulders (Bearish)
  • Resistances: 1,221 (78.6% Fibonacci Retracement Level); 1,254(50D MA); 1,275 (Neckline and 200D MA)
  • Supports: 1,172 (20D MA); 1,122; 1105 (61.8% Fibonacci Retracement Level)
  • Trend: Start of Down Trend.

NASDAQ Composite ($COMP)

  • Chart Pattern: Triple Tops (Bearish)
  • Resistances: 2,606 (Neckline); 2,655 (50D MA); 2,700 (200D MA)
  • Supports: 2,526 (78.6% Fibonacci Retracement Level); 2,470 (20D MA); 2,256 (61.8% Fibonacci Retracement Level)
  • Trend: Start of Down Trend

 

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Capitaland: Rebound within a Down Trend Channel

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Capitaland is still trading in a down trend channel. Provided by big bad news to cause Capitaland to break the down trend support, it is expected Capitaland will have short rebound at the current level.

  • Support at about $2.388 which is the down trend channel support and also 23.6% Fibonacci Support.
  • Resistance at about $2.776 which is the down trend channel resistance and also the 38.2% Fibonacci Resistance.

 

 

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Wilmar: Watch the $5.00 Support

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Wilmar has been testing $5.00 for the past 4 occasions. Watch this support closely as breaking down at this support level may kick start very bearish trend for Wilmar. Also take note that Dead Cross has already happened on Wilmar where 20D MA already crossed 50D and 200D MA. Immediate Resistance is at about $5.47.

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