Dow 30 Jan 19 to Jan 23 Outlook

By News Robot

Lawrence’s Comment

Y-0 support sent Dow back up to Y+1 for a test. We know it is strong resistance and Dow reacted to it and dropped straight down to Y-1. The mess from SNB made Dow not able to move on its own by the end of the week so it drifted back up. Closed the week below Y-0 and midpoint.

Resistance Y-0 / B-0 area points to limited up side with potential to consolidate around close at 50% range. The risk of selling back down for a retest of B-1 and expanding lower to B-2 is high but not necessary happening this week.


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