• Down Jones broke support zone
• Likely to fall to support level 34600.00
Down Jones index today crashed sharply – breaking through the combined support zone lying at the intersection of the key support level 35515.00 (which has been reversing the price from the end of October) and the 38.2% Fibonacci correction of the upward price impulse from the start of October. The breakout of this support zone accelerated the active short-term impulse wave (c) – which belongs to the higher impulse wave (iv) from the start of November.
Given the widespread deterioration of the risk sentiment as seen across the equity markets today, Down Jones index can be expected to fall further toward the next support level 34600.00 (target for the completion of the active impulse wave (iv)).
