DOW 30 has been in habit of
following our analysed and mentioned level and yesterday also it did. Dow 30
traded flat yesterday as it opened at 17887 and made low of 17875 before
retracing itself to make high of 17910 before closing at 17890 with 41 points
or 0.23% increase to index.
DOW 30 has been in bullish trend
and has been continuing to do so among improving global and economic climate
.One has to notice that DOW 30 trading near upper Bollinger limit and making
doji pattern for two consecutive session indicate that rally may fissile out
near its immediate resistance zone if they are not breached and sustained
positively. DOW 30 overall trend remains positive.
DOW 30 has immediate resistance
at 17905—17920.If this level is positively breached and sustained then one see
next resistance building around 17960—17975.
DOW 30 has crucial Support which
is intact at 17875—17860.If this level
is not sustained then one see next support building around 17825—17800.
RSI of 60 and increasing also
suggest that investors are building confidence in DOW 30 and waiting for few
negative news around corner to clear to enter aggressively in Dow 30.
MACD of positive 48 also indicate
that DOW 30 short term trend is stable and positive.
More Will Updates Soon!!
