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 and traded flat for the session as profit booking was the theme of the
session as DOW 30 opened at 18465 and from there tried to make a high of 18465
before profit booking could dominate to make low of 18424 before closing the flat
session at 18445 with loss of just 8 points to the index. DOW 30 short term
trend may me toward consolidation or profit booking.
DOW 30 has immediate Resistance
intact around 18490--18500.If this level is positively breached and sustained
then one see DOW 30 resistance building around 18550—18580.
DOW 30 has immediate Support
building around 18200--18190.If this level is breached negatively and not
sustained then one see next support building around 18030—18000.
RSI of positive 67 and increasing
indicate that short term trend is positive and we may see some profit booking
as investors would like to square off their position and DOW 30 is trading near
upper Bollinger band limit and we may see some range bound movement for short
term.
MACD of positive 199 and
improving also indicate trend is positive and we may see this upside momentum one a
strong support is formed at current level and support are positively sustained.
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More Will update Soon!!
