The support zone is 15,500 to 16,000
The only positive on the chart is the bounce from the support zone. I will be pleasantly surprised if the support zone holds.
The negatives on the chart:
- Trading below the 50-day and 200-day moving averages
- 50-day below 200-day
- RSI below 50
- MACD below 0
Reference my post of January 16, 2016 showing the Fibonacci retracement levels for DJIA.
“Technical Analysis is about probabilities.”
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