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Dow Jones Futures

3/24/2016 3:47:57 AM

Dow Jones breaches a negative pattern's support - Technical Analysis - 24-03-2016

The Dow Jones Industrial Average fell in the short term and intraday levels for the third session in a row as traders booked profits of the index's past short-term rises, while searching for a bottom to bounce off it higher again, with the index eventually breaking through the support of a negative technical pattern that's contradictory to the upward short-term trend, the Rising Wedge pattern, as shown in the attached chart, putting itself under negative pressures in the coming trading.

Therefore we expect more losses to come for the index, especially if it confirmed breaching that forming negative technical pattern's support, targeting thereafter the first support at 17,105.



Trend Bearish