Dow Jones 2015-01-30

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Dow Jones: 17300

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

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

market managed to re-test 17150-200 zone again this week which provided good zone to re-long-buy market , where target now will set toward 17900 , while market risk would place stop order below 16970

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 17150 17485
Level 2 16975 17665
Level 3 16800 17900

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