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Dow Jones Futures






4/29/2016 6:51:30 AM

Dow Jones pierces an ascending price channel's support - Technical Analysis - 29-04-2016



Dow Jones closed lower in the short term and intraday levels trading, breaching the support of that ascending price channel that limited its previous medium and short term movements as shown in the attached chart, while coinciding with breaching the the support of the SMA50, exposing itself to more negative pressure in the coming trading, with an influx of negative signals from relative power indicators.

Therefore we expect more losses to come for the index, targeting the first support at 17,630.


Target
Risk


Support
Resistance


Trend Bearish

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