Technical Analysis: Dow Jones - Friday, Jan. 16

The Dow managed to meet the target zone at 49500-600.
As we see from the previous chart, prices face an uptrend resistance channel around the 49800-50000 zone which led to a correction towards 48760.
As long as the market holds above 48760 the advance wave could continue.
Below 48760 more of a drop will be expected with supports at 48300 and 47600-700.
Above 50000 the Dow could enter a new advance wave.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 48760 | 49800-50000 |
| LEVEL2 | 48300 | 50600 |
| LEVEL3 | 47600-700 | 51000 |
More By This Author:
News on Iran and China Move MarketsIntraday Analysis - Friday, Jan. 16
Technical Analysis: EUR/USD - Thursday, Jan. 15
Disclaimer: Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number ...
moreComments
Please wait...
Comment posted successfully
No Thumbs up yet!