Dow Jones Industrial – Outlook For November 7, 2014

DJIA made a new all-time high last night (17.560). The trend is very bullish as long as price remains above 17.350. This level could be used as a stop-loss on short-term-oriented long positions. Given the loose central bank monetary policies all over the world, we expect a continuation of the upmove in the next weeks, maybe after some necessary price consolidation that would reduce the “overbought” market conditions.

Dow Jones Industrial, daily chart:

Dow 30(5 Hours)20141107114727

Chart courtesy of Investing.com. http://investing.com

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