Dow Jones 2014-11-21

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Dow Jones: 17800

Equity demand

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

market managed to jump fast in U.S equity after the last U.S GDP which indicating better than expected economic growth in U.S.A.

market managed to jump above resistance 17440 2 weeks ago, which sending signals of ability to sustain advance toward up

short-run

market faced today 2 situation which will consider good for equity:

1- China Cuts Benchmark Interest Rates to Boost Economy

2- Mario Draghi said the European Central Bank must drive inflation higher

those 2 events give Global equity more driver to sustain uptrend movement

while dow is approaching our third target 17850 , where market showing strong resistance at 17920-40 zone which will give opportunity to gain profit or to establish new short-sell trades

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 17700 17850
Level 2 17600 17920-40
Level 3 17480 18080
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