Dow Jones Industrial Average recently reached the resistance level 16660.00 which is the first of the two buy targets that were set in our earlier forecast for this index(16660.00 and 16800.00).
Due to the strength of the resistance zone near 16660.00 (which has been reversing the index from the start of this year), Dow Jones Industrial Average immediately reversed down after reaching 16660.00. The price can be expected to correct further to the downward correction target 16200.00 (standing close to 50% Fibonacci Correction of the preceding sharp minor upward impulse wave 1 from April).
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