DOW - Technical Forecast - 22nd June 2010 - 13.30hrs GMT
As you can observe from the above monthly chart of DOW the respective 50SMA acted as resistance to the recent up move since the beggining of 2009.
We applied a Fib scale (0 level at 1.647points - 1,00 level at 2.750points) from the long past, before 1988.
The consequent application of additional Fib scales after the level of 9.206 points on April 1998 (6,85 level Fib) indicates that the top level of Fib 11,35 coincides with many other Fib levels of Fib scales applied on minor time periods price movements.
FORECAST: We believe that 9200 points constitute a level from which we will decide for the evolvement of the market. In our opinion, the correction which started at about 11.000 points did not yet excaust its length.
This material is provided for information purposes only and no information contained herein constitutes a solicitation for the purpose of purchase or sale of any commodity, security or investment, nor should it serve as the basis for any investment decision. Nothing in this site should be read or construed as constituting investment advice on the part of the Company, or any of its affiliates, directors, officers or employees.
AtlasCapital Financial Services Limited does not guarantee the accuracy or completeness of any information or analysis supplied and shall not be liable to any customer or third person for the accuracy of the information supplied through this service to a customer, nor for any delays, inaccuracies, errors, interruptions or omissions in the furnishing thereof, for any direct or consequential damages arising from or occasioned by said delays, inaccuracies, errors, interruptions or omissions, or for any discontinuance of the service.
Accessing this material in no way renders the user a customer of AtlasCapital Financial Services Limited, therefore AtlasCapital Financial Services Limited shall have no obligation whatsoever to any person accessing it. This material in no way takes into account special investment goals, the financial situation or specific requirements of individual users. You are strongly advised to obtain independent investment, financial, legal and tax advice before proceeding with any investment.
AtlasCapital Financial Services Limited website can be accessed worldwide, however, it may be the case that the financial instruments described are not legally permitted for all investor groups in all areas of the globe and that access to this website may be subject to legal restrictions. Users to whom such legal restrictions apply are not permitted to access this website and AtlasCapital Financial Services Limited accepts no responsibility for anyone accessing this site contrary to any relevant legal restrictions.
If you communicate with the company by email, you should note that the security of Internet email is uncertain. By sending sensitive and confidential messages which are not encrypted you accept the risks of such uncertainty and possible lack of confidentiality over the Internet.