Dow Jones: is it heading towards 13.550????
As we can see at the figure below, Dow Jones chart shows us a falling wedge. This pattern is considered as bullish if the breakout is above the upper line.
After January 22, 2008 hammer candlestick (it suggests the market is attempting to determine a bottom and it indicates that the bulls are strengthening), price bounced and broke above the upper line last Tuesday.
It means that Dow Jones objective is 13.550 (level of the first peak of the upper line).