Dow Jones 2014-12-18

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Dow Jones: 17485

Equity demand

Global Equity markets faced drop around the world , where continues drop of Oil threaten inflation for more drop , while Russian surprising rate hike placed demand for haven

Short-run

market managed to fell below 17200 support zone which added more drop over equity , where market anticipate Fed to head next year for rate hike

as long as market holding trades above 17000 a rebound correction may be expected toward 17700 zone , below 17000 expect 16600-700 zone

market managed to sustain rebound where facing now resistance at 17500 zone , while above this zone expect 17650-700 zone target

Long-Run

as we mentioned at the end of last year and early this year , Dow managed to head toward near 18000 by the end of this year

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 17200 17500
Level 2 16975 17650-700
Level 3 16700 17765

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