FxWirePro: Another 14 percent drop in DJIA likely

U.S. Industrial benchmark index, Dow Jones Industrial Average (DJIA) has come under fire after reaching an all-time high around 27000 area (US30) in early October. Since then, it has come under intense selling pressure.

So far, the index has declined more than 9 percent so far and calculations suggest that the selling is not over yet. The index might see some temporary respite but we expect the selling pressure to continue next month.

Calculations suggest that the index is set to decline more than 14 percent and reach around 21000 area, which would be the lowest level for the index May 2017. It would be interesting to watch out for political turmoil in the United States if the index does wipe out almost all the rally since President Trump’s inauguration.