Price Action – Dow Jones Barely Holding Key Support | Oct. 29th
With Skynet offline today since US equity markets and exchanges were closed (due to hurricane Sandy), a key support level in 13000 is coming under pressure for the Dow Jones Index. Although a decent sized pin bar formed Friday off this level, pressure remains on the major index, and should the key support fail, 12750 and 12500 will be under attack shortly after.
Bears currently have control so intraday pullback setups towards 13150 and 13300 are good areas to sell on rallies. Bulls will want to see more stability here, or a deeper pullback before entering long.
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