Dow Jones 2015-01-22

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Dow Jones: 17520

Equity on trading zone

Dow managed to hit zone of 18000-100 last year which provided good zone to re-short-sell market as we advised before

as long as market holding trades below 18100 will expect some drop pressure to start affecting market where another drop correction toward 17200 may be expected, which already done twice so far at market

market may hold short-run trading zone between 17000 – 18100

market managed again to re-test support zone of 17150-200 while the rebound market was capped at 17525-85 zone

as long as market holding trades above 16970 market will hold chances for another rebound toward 17900-80 zone , while below 16970 market may initiate new downtrend wave that may target 16200 zone

zone of 17150-200 may offer again long-buy opportunity , where target would be toward 17900 , while risk market would be below 16970

above 17585 market may sustain advance toward 17900 and maybe toward 18100

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 17150 17535-85
Level 2 16975 17720
Level 3 16800 17900


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