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 trading range bound mode for most of the session as investors were
booking profit for the bull rally and hence we saw DOW 30 trade flat as it
opened at 18399 and made high of 18446 and then as profit booking dominated DOW
30 to make low of 18380 before closing the flat session at 18395 and lost 30
points or decrease of 0.16% 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 positive 66 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 166.88 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.
More Will Update Soon!!
