Dow Jones 2014-10-29

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Dow Jones: 16945

Equity under drop correction

market faced sell-off pressure 2 weeks ago 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

short-run

market may head for trading zone between 16000 – 17000 zone , which may be affected by conflict data and signals from U.S economy where policy makers still pursuing higher inflation data before head to interest rate hike

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 16880 16950
Level 2 16665 17080
Level 3 16380 17180
Short-Term Strategy: flat
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