DOW JONES
As expected and analysed by us Dow Jones took support at 17541.Short term scenario looks bearish as Dow Jones near its immediate support of 17480.If this support is not sustained and breached negatively we may see next support building around 17260-17135.Dow Jones is extremely weak below this level.
Dow Jones has Resistance at 17730-17830.Dow Jones is unlikely to touch these level as technical indicators indicate opposite story.
RSI of 57 indicate that buyers are exiting and short selling may be dominant for short time to come.
MACD of -30 suggest that Dow Jones is taking sharp correction and may continue to do so in short term as market and global cues put weight on the market which is already in correction mode
More will update soon!!
