DJIA closed below both the 200SMA and 200EMA. Since July 2009, bulls have been using these critical moving averages as support guides and this weak closing signals potential further bearish falls. A breakdown below the red dotted trendline will retest the red bold support of the potential diamond top formation.
Take note that any technical rebound may meeting resistances at 200SMA and 200EMA. Any unexpected upward surge will probably be halted at the green resistance of the potential diamond pattern.
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