DOW traded the whole range in the weekly chart during Tuesday.

DOW hit the weekly falling 21 MA at 12.828 Tuesday and then fell to just above the rising 8 week MA at 12.605 before closing at 12.651. This move happened to be exactly what I wrote about in yesterdays blog.

The falling 21 week MA is now tested and protected for at least the next five days since this morning the daily 8 MA also turned down to 12.802 which now is the main resistance point for any rally. I expect further test on downside today with 12.603 as main support. Trading in Asia has reached a low of 12.620 and the Dow is now trading at 12.641.

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