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 and buyers are entering DOW 30 as it has been forming recent
highs as DOW 30 opened at 18485 and from there tried to make a high of 18490
before profit booking could dominate to make low of 18478 before closing the
flat session at 18486 with loss of 9 points to the index. DOW 30 short term
trend may me toward consolidation or profit booking.
DOW 30 has immediate Resistance
intact around 18500--18535.If this level is positively breached and sustained
then one see DOW 30 resistance building around 18600--18635.
DOW 30 has immediate Support
building around 18435--18400.If this level is breached negatively and not
sustained then one see next support building around 18300
RSI of positive 66 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 and also the fact that DOW 30 has been making recent highs.
MACD of positive 203 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.
More Will Update Soon!!
