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 seems to have entered in consolidation phase as it has been bullish
for some time and may be under healthy correction mode for short term. DOW 30 opened
at 17860 and made low of 17802 before finally settling at 17807 and shredded 55
points with decrease of 0.30% to the index.
DOW 30 has immediate Resistance
intact around 17880--17930.If this level is positively breached and sustained
then one see DOW 30 resistance building around 18090--18120.
DOW 30 has immediate Support
building around 17700--17680.If this level is breached negatively and not
sustained then one see next support building around 17560--17530.
RSI of 53 suggest that short term
trend may be towards consolidation and may continue to move sideways for short
term.
MACD of positive 10.30 and improving
also indicate that short term trend is in consolidation as DOW 30 has
been bullish for previous sessions and now may enter profit booking mode.
