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 has been highly bullish since the start of the month as positive data
provide DOW 30 with the much needed stimulus and hence it opened positively at
18272 and from there continued its upside momentum to make a high of 18422
before settling the highly bullish session at 18415 and gained 117 points or
increase of 0.65% to the index.
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 67 positive indicate that
short term trend is positive and we may see some profit booking as investors would
like to square off their position before end of this weak and also the fact
that DOW 30 is trading near upper bollinger band limit and profit booking may
be the theme ahead for next session.
MACD of positive 147.24 and improving
also indicate trend is bullish and we may see this upside momentum to continue
for short term as positive data are providing the much needed impetuous.
