Capital Trust
Capital Trust
images

Dec 08, 2016

05:03 PM EDT


  • New York close
  • London close
  • Tokyo close
  • Sydney open
Market Analysis

Home » Featured » Dow Jones Mini Futures, Technical Analysis for January 04, 2015

Dow Jones Mini Futures, Technical Analysis for January 04, 2015

Posted by FXTimes in Featured - January 4th, 2016 8:19 am GMT

3

The Dow Jones daily chart indicates that the indice has resumed its downfall and a break below 17000 levels would accelerate the same. Looking into the wave structure, the indice seems to have completed 5 waves down from 18400 to 15400 levels and subsequently 3 waves up from 15400 through 17900 levels, completing two waves of the expected correction. A third wave lower has also resumed from 17900 levels and is expected to accelerate lower below 15000 levels. Immediate resistance is seen at 17700 levels while support is seen t 17000 levels respectively. Also the RSI has lowered from 70 levels and a break below 17000 levels would be extremely encouraging to the bears.

Trading recommendations:

Remain short, stop at 18000/100, target is open.

Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates


Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.