Dow Jones 2014-12-24

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Dow Jones: 17985

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

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

Short-run

market managed to sustain rebound where managed to hit our target 17700 , while market sustain uptrend movement where resistance of long-run uptrend channel laying at 1800-100 zone

market may head for another drop correction where short-run still seeing trading zone between 17000 – 18100

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 17895 18000
Level 2 17780 18100
Level 3 17685 18250

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