DOW Futures 28th MAY 2009 recap

"I favour the 50% level forming some intra-day resistance that could push price back down into support levels.

Probability pattern:- 5-day 50% level along with the week 50%@ 8338 pushes price down into support levels as shown.

This could lead to some support and then a late move back above the 50% levels and a higher daily close"

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DOW Weekly and 5-day pattern

US markets remain range bound with Thursday's early sell down into support and a higher Daily close.

Based Thursday's Trading, I would favour a continuation upwards on Friday using the same levels as support.

With 1 day left in MAY, the resistance levels of the MAY highs shift higher and I favour a continuation upwards in June.



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