Dow Jones 2014-10-24

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Dow Jones: 16575

Equity under drop correction

market faced sell-off pressure last week after report from U.S show contraction over retail Sales and PPI which spark concerns over health for the biggest economy in globe

market tested 15765 support zone , where market managed to rebound fast from it as market tumbling in the over sold zone

so far Equity market managed to obtain drop correction with less than 10% which indicating the sustain of Long-Run uptrend wave

market managed in the last few days to fell for drop correction toward 16380 , where market still holding above support of 16350 , as long as market holding trades above 16350 the uptrend will sustain for farther advance above 16600 , done yesterday

short-run showing support at 16380 , where market may head for trading zone between 15380 – 16700

below 16350 expect farther drop toward 16160-90 zone

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 16350 16700
Level 2 16205 16760
Level 3 16100-30 16880
Short-Term Strategy: long-buy at 16450 , stop loss at 16340 , target 16750


or practice on DEMO ACCOUNT

Trading CFDs Involves high risk of loss

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