dow jones monthly-Achieved downside tgt 17950 next tgt 17750

Dow Jones monthly chart technical analysis November 2016 Dow Jones monthly chart technical analysis November 2016 DJIA index on last trading session closed at 17959 with huge loss. Dow in month of November breached its major pivot support of 18175 and given fresh sell signal. Dow jones major downside were 17950 and then 17730 and these are monthly target zones out of which 17950 got achieved.   Dow jones November monthly trend and momentum both are down but technically oversold so expect sharp value buying as well as short covering on lower levels. On upside 18175 remain as major hurdle. Weekly closing above 18175 mean fresh breakout and trend change for this index. Above 18175, Dow jones will face strong resistances at 18400 and then 18600. These will be target zones on trend reversal.   Dow jones weekly chart showing 17600 is major support zone and above it index will remain bullish and buy from long term view. On upside 18800 and 19500 will be long term target zones.

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