Dow – Rising Channel on 4-hour chart

Resistance – 18,167, 18,250

Support – 18,000, 17, 850

Formation – Rising Channel

• Bull grip remains intact as long as rising channel is not breached on the downside.
  

• Failure on the part of bears on Friday to keep prices below Nov 3 high of 17,977 indicates prices may revisit recent high of 18,167 above which 18,250 stands exposed.
  

• Bearish break from rising channel would expose 4-hr 200-MA.