FX.co ★ Technical analysis of DJIA for February 10, 2014

The Dow has posted gains this year so far. Stocks soared on Thursday and Friday. It was an impressive performance at Friday's session. The decline in the unemployment rate to 6.6% from 6.7% made short covering in the market. The recent decline of stocks attracted traders to re-enter the market. We recommended buying on February 10, 2014. The Dow was trading at the level of 15,442 for targets near 15,800. In the daily chart RSI gave a buy signal. In the hourly chart RSI is in overbought zone.

Resistance: 15,900-15,944, 16,240.

Support: 15,626, 15,340.

Old charts-

Recommendation- Buy on dips, current market correction was healthy.