DIA Has Major Resistance at 105-107

08/03/2009 9:31 am EST


Thomas Aspray

, Professional Trader & Analyst

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The weekly chart of the Dow tracking ETF (DIA) shows that the weekly momentum is still rising strongly and has not yet reached overbought levels. Mo did form a positive divergence at oversold levels in March. There is major resistance in the 105-107 area for DIA, and for the Dow Industrials, at 10,500-10,700, with key support at 8096..

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