Dow gave a strong rally from October 2012. Now it is trading at a strong resistance trend line. We recommended to sell in our last couple of reports, where 16,700 were acting as a strong resistance. Dow closed above 16,700 and created a new trend setter targets.
Support- 16,346 16,190
Resistance- 16,562 16,700
Recommendation- Dow makes a base at the level of 16,370. Use this as a sl for the targets 16,560 and 16,700.
16,562-16,240 = 322
322+16,376 = 16,698 target
For detail explanation and best discovery on market trends you may visit via Technical analysis of Dow for January 20.01 . Thanks for your support on Technical analysis of Dow for January 20.01
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