Dow Jones 2015-02-03

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Dow Jones: 17360

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 support 16970 yesterday with signals of ability to break below , while market managed to obtain rebound correction which will face 17380-480 zone as resistance zone

as long as market holding trades below 17480 the downtrend pressure may sustain over short-run , while any retreat toward 16900-50 zone may initiate new downtrend wave that may target 16200 as first target

Daily Trend: Down
Weekly Trend: Up

  Support Resistence
Level 1 17060 17380
Level 2 16900-50 17480
Level 3 16800 17620

START TRADING

or practice on DEMO ACCOUNT

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