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Beirut 01:46 pm Paris 01:46 pm New York 07:46 am
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DOWJONES January 22, 2016

Dow has resumed the bearishness as projected, reaching our defined technical objective at 16565.00 where 50% Fibonacci support exists.

We will be on the sidelines today due to the inappropriate risk versus reward ratio, as the next Fibonacci level is very close.

The levels to watch today are 1937.00 and 1970.00.

Support: 1942.00-1937.00-1920.00

Resistance: 1963.00-1970.00-1982.00

 

Direction: Bearish, but we will avoid trading.