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DJIA – support level 18 000, if the price break through 18 000, sell

DJIA: uptrend.
correction deeper bottom yesterday. The price is still above 18,000 points, which gives us no reason for short positions. Markets today and the next two days we will have low liquidity, possible sharp movements in both directions.

Crossing the price below 18,000 points will lead to new short positions. 18,000 level is very important for short-term performance of the index.

Possible is long from current levels, but the position will be risky because low liquidity may lead to activation of stop loss.

Negative sentiment today due to Greece, where the vote for a new president was unsuccessful, which means new elections in late January or early February.

So far we have no reason to sell, a break below 18000 will give a signal for short positions.


 Varchev Traders


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