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 same trajectory as S&P 500
as DOW 30 showed a bull run on expectation of BREXIT as investors and this was
taken positively by the market as Dow 30 opened positively with a gap up open
at 17190 and from there made high of 17409 before closing the highly bullish session at 17409
with surge of 270 points or increase of 1.57% to the index.
DOW 30 has immediate Resistance
intact around 17430--17445.If this level is positively breached and sustained
then one see DOW 30 resistance building around 17530---17600.
DOW 30 has immediate Support
building around 17355--17350.If this level is breached negatively and not
sustained then one see next support building around 17200--17190.
RSI of 42 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 and investors
are entering long at an attractive level.
MACD of positive negative 72 and
improving also indicate that short term
trend may be improving in DOW 30. Traders
should maintain caution.
