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Dow Jones Futures






12/14/2015 2:32:24 AM

Dow Jones reverses the main upward trend.



Dow Jones Industrial Average ticked down in the intraday and short term levels, bypassing the simple moving average for the period 50, and exposing itself to its negative pressure; after the important resistance level of 17,904 held on for the second consecutive time, with the index appearing to conjure up a negative technical pattern, reversed to the main upward trend in the short term, which is the double top pattern as shown in the attached chart, but it remains to be seen whether the formation of the pattern will be carried out, with the signal being a breach of the support level of 17,053, which is the support level of this forming pattern, to ascertain its success.

 

Therefore we expect a decline for the index, targeting the support of 17,053.


Target
Risk


Support
Resistance


Trend Bearish

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