Dow Jones Trading: Starts Year Bearishly. 04 January 2016.

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Dow Jones Futures has ended 2015 negatively and started 2016 with a bearish tendency, clearing 17390.00-support turned into resistance- as seen on the provided daily chart.

Dow Jones Trading: Starts Year Bearishly. 04 January 2016.

Stability below moving averages 20 and 50 in addition to the bearishness appearing on RSI14 and ADX may assist bears to clear 61.8% Fibonacci followed by 17000.00 psychological.

A break below 17000.00 would activate a bearish classical pattern and thus, we are bearish today.

Support: 17050.00-17000.00-16920.00

Resistance: 17225.00-17320.00-17460.00

Direction: Bearish.