US Indices Gain
26 January 2012 19:58:22 WIB
Dow Jones
Intraday bias for Dow Jones is bullish for now. The index is testing the resistance at 12731 and a break of it will capitalize the bullish momentum so that index will likely run to the range 12781 – 12836. On the other hand, observe the hourly stochastic and CCI those are indicating overbought condition. Appearance of bearish signals from both of them before the resistance at 12731 breaks will open the chance for correction to the support area at 12651. A break of that support will turn the bias to bearish with the next support at 12571 as the target.
Nasdaq
Intraday bias for Nasdaq is likely neutral for now. The index is testing the resistance at 2468.25 and a break of it will capitalize the bullish momentum so that index will likely run to the range 2478.87 – 2492.88. On the other hand, observe the hourly stochastic and CCI those are indicating overbought condition. Appearance of bearish signals from both of them before the resistance at 2468.25 breaks will open the chance for correction to the support area at 2456.63. A break of that support probably will deepen the correction to the next support at 2443.63. Bias will turn to bearish if the index breaks below 2443.63, probably will move to 2430.62.
