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 extremely flat as DOW 30 seems to have entered in
consolidation phase as DOW 30 opened at 18461 and from there made high of 18483
and low of 18369 before closing the range bound flat session at 18456 with loss of 16 points
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 60 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 180 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!!
