Dow Jones Industrial Average 5-Year Chart

The support zone is 15,500 to 16,000
DJIA 5-Year Weekly Chart showing the support zone.

DJIA 5-Year Weekly Chart

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.

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“Technical Analysis is about probabilities.”

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