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Article
DJIA Head and Shoulders Pattern Adds to Bearish Potential
Thursday, 02 July 2009 16:07:10 GMT
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Previous Articles
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Daily charts of the DJIA show a maturing head and shoulders pattern, with the neckline looming close below at 8250. As a result, this level marks the proverbial 'line in the sand' for the index, and due to the correlated nature of the markets, a break below 8,250 opens the door to broad declines in risky assets, including FX carry trades.
Dow Jones Industrial Average (Daily Chart)
Source: Bloomberg
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