DOW JONES Daily Forecast Aug 01 2014

The DOW JONES index maintained a bearish momentum yesterday , topped at the 16819  levels and bottomed at the 16486  levels , now pressure will be on the key support 16486…….

The DOW JONES  index will have to hold below the 16486  levels on a daily closing basis to push the market for further downside losses , If seen , It will target the 16320  levels next , further downside will pave the way towards the 16115  levels ahead of the 15887  levels.

Alternatively ; a failure to hold below the 16486  levels could mean a return to the 16806 /16990  levels , break of the 16990  levels on a daily  basis will recapture the 17082  levels ,If this resistance is taken out  , expect the pair to strengthen further towards the 17200 levels……….

In all , as long as resistance 16806 /16990  holds on a daily closing basis , outlook in DOW JONES index remains on the downside towards the 16320 levels , break of the 16990  levels on a daily basis will turn outlook towards the 17082/17200  levels ……..

 

DOW JONES Daily Forecast Aug 01 2014

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