dow jones weekly technical analysis 16 to 20 may 2016

dow jones weekly technical analysis 16 to 20 may 2016 Dow jones index this week closed at 17535. On weekly chart, price trend and momentum both are bearish.   Dow jones future is heading towards my first tgt of 17400 and below 17400 next tgt will be 17020 for month of May.   On upside 17830 is strong resistance and below it keep sell on rise view.   From long term view, 16850 is major support, below it expect downcycle with tgts 15300 and 13200 in 2016.

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Pramod Baviskar

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