DJIA weekly technical analysis for 7 to 11 march 2016
Dow jones industrial averages this week closed with gain. This was third gaining week for this major index. In these 3 weeks’ time period, Dow jones rallied from low of 15900 to highs of 17100. Almost 1200 points rally in very short time reflecting change of momentum and investors mood. My given target of 17100 is achieved now next target is at 17710 if Dow jones sustain above 17100. On downside major support is at 16300 and above it strategy will remain buy and accumulate. For year 2016, DJIA above 16800 remain bullish and buy. On upside my major long term targets are 19000 and 20500.