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 but eventually cracked at latter half of session as profit booking
intensified for the recent highs and hence we saw DOW 30 open at 18554 and from
there made high of 18555 but could not sustain it and eventually cracked to
make low of 18452 before finally closing the weak session at 18493 with loss of
78 points or decrease of 0.42% to the index.
DOW 30 has immediate Resistance
intact around 18535--18550.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 18450--18400.If this level is breached negatively and not
sustained then one see next support building around 18300.
RSI of positive 62 and decreasing
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 212 and
improving also indicate trend is positive and we may see this upside momentum one
a strong support is formed at current level and supports are positively
sustained.
More Will Update Soon !!
