DOW 30 looking weak for short term as yesterday session also it opened at 17701 and from there looked bearish and weak and made low of 17470 before settling at 17529 and ended by shedding 180 points to index i.e 1.02% decrease to DOW 30.
Important thing to note that DOW 30 settled near its crucial support of 17700 and breakout in either direction will decide its immediate trend.
DOW 30 has resistance at 17710.If this level is positively breached one see next resistance around 17812—17850.
Dow 30 has crucial support at 17500.Below this level there can be panic and next support building around 17400-17391.
RSI of 43 also indicate that buyers are waiting for global uncertainty and weak global and economic scenario to improve and this shows that for short term trend is weak.
More will update soon!!
