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Thursday, July 28, 2011

DJIA - Updated Chart

Following my last post dated July 25 Monday where a bearish divergence was spotted, DJIA lost 379 points in the next 3 sessions and is now sitting at Support 1. It is hard to predict whether Support 1 will hold because RSI is not oversold yet. We need to watch how the market unfold. If Support 1 is taken, the index will sough support from Support 2.