DOW 30
DOW 30 has been in habit of moving on our analysed levels
and it did so again by opening at 17729 and making high of 17809 before finally
closing at 17789 with just 2.47 points or increase of just 0.01%.
DOW 30 has been moving on expected line as it is in consolidation
phase on account of previous bull rally and for short term DOW 30 has been in
correction mode.
DOW 30 has resistance intact at 17850—17855.If this level is
positively breached and sustained then next resistance building around 17920—17940.
Support is intact at 17720—17700.If this level is breached negatively
and not sustained then one see next support around 17650—17640.
RSI of 53 also indicate that DOW 30 is in consolidation
phase and may continue this trend for short term as investors are trading with
hawkishness among pending global events.
MACD of positive 17.92 also indicate the above as we have
few global events lined up because of which investors are not entering DOW 30 aggressively.
More Will Update Soon!!
