DJI–Technical Rebound at 200SMA

Despite all the jokes happening in US, DJI is still in very good shape of long term uptrend (refer the 1st figure). Today, DJI had technical rebound at 200SMA. Usually, indexes and stocks “respect” 200SMA as either support or resistance level.

Besides, you also clearly see the resistance zone and the support zone from the 2nd chart too. So, in short or medium term, DJI have been ranging for many weeks.

DJI-11102013-1

DJI-11102013-2

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