Dow to ‘Take a Rest’ at 10,500: Technical Analysis

(Bloomberg) -- The Dow Jones Industrial Average will remain at about the 10,500 level through the end of the year, according to Volker Bien, a technical analyst at UniCredit Markets & Investment Banking in Munich. Bien, who looks at charts of trading patterns and prices to predict changes in a security, cited a graph showing how often the gauge has moved through different levels, which he said shows a “zone of extreme high density” at 10,500.

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