DOW 30
DOW 30 has been in habit of
following our mentioned and analysed levels and it moved in our previously
mentioned range on expected terms. Dow 30 was in opposite trajectory to S&P
500 and looked to form support or enter into consolidation after three previous
highly bearish session as DOW 30 opened positive at 17036 and from there made
low of 17016 looking at the negative market sentiments and then bounced back to
make a high of 17149 before closing a positive session at 17129 and gained 144
points or increase of 0.58 % to the index.
DOW 30 has immediate Resistance
intact around 17145--17155.If this level is positively breached and sustained
then one see DOW 30 resistance building around 17200--17245.
DOW 30 has immediate Support
building around 17030--17000.If this level is breached negatively and not
sustained then one see next support building around 16970--16965.
RSI of 30 and increasing g
indicate that short term trend is improving as market seems to have factored in
all negative impending news and looking to build upside momentum as BREXIT news
seems to be taken positively by market but traders should maintain caution as
news of BREXIT could create some momentum panic for few session as global
uncertainty increases.
MACD of positive negative 135
also indicate that short term trend is still weak. Traders should maintain
caution as BREXIT news could swing market in any direction if momentum of DOW
30 not sustained and bull do not enter aggressively.
More will Update Soon!!
