Dow jones weekly technical report for 14 to 18 November 2016
Dow jones industrial average this week closed at 18847 with hue gain. This week Dow hit low around 17994 while high was at 18873. Total almost 900 points high volatile swing and positive closing for this major index. Dow is outperforming other major indices and seeing strong buying on every decline. Dow this week closed with weekly gains after last 2 week’s continues strong negative closing.
Technically, down is in super bullish uptrend and given breakout above 18175 level and then achieved upside targets of 18390, 18600 and 18825. Now heading toward last swing target for series which is at 19050. On downside 18825 then 18600 are immediate support zones.
From long term view, Dow jones is in strong uptrend and heading towards long term targets of 19300 and then 20k.