FXEmpire | December 4 2012 1:28 EST
The Dow Jones Industrial Average fell during the session on Monday, triggering the sell signal from a shooting star that was formed on Friday. However, we see significant support at 12,900 and would wait until that levels cleared in order to start selling. If we do get the signal however, we could move as low as 12,800 in the relative short term.
It’s at the 12,800 level that we think serious support services step back into the marketplace. Because of this, any shorting opportunity right now would have to be thought of more or less is a short-term trade.
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Originally posted here