World Markets analysis as on 28th January 2010

DOW Analysis

• LTP = 10,120.46
  

1. Candlesticks - Long red candlestick with good wicks.
   
2. EMA - Closed just below 100 EMA.
   
3. Trendline - Closed on Trendline support.
   
4. Support and Resistance- 10,115 and 10,500
   
5. Pivot Point (Monthly) - Today it found support at S2. Resistance = 10,190, Support = 10,100
6. Parabolic SAR - Bearish
   
7. Volume - Higher than yesterday.
8. ADX - +ADX cuts -DMI, -DMI showing -ve bias, +DMI also showing -ve bias.

In my view, DOW should bounce back from here after touching the support of trendline and 100 EMA. Also it has support at S2 level of monthly pivot point.

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FTSE

• LTP = 5145.70
  

1. Candlesticks - Couldn't sustain day's high and closed at day's low. Bearish indication
   
2. EMA - Closed below 100 EMA.
   
3. Trendline - Trading below trendline.
   
4. Support and Resistance- 5100 and 5300
   
5. Pivot Point (Monthly) - Closed below S1. Resistance = 5230, Support = 5090.
6. Parabolic SAR - Bearish
   
7. Volume - Higher than yesterday.
8. ADX - +DMI showing -ve bias, -DMI is above ADX and +DMI. -DMI is showing +ve bias.

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