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 positive as investors are entering DOW 30 as trend seems to be
positive as DOW 30 opened positively again at 18441 and continued its upside
momentum to make a high of 18493 before finally closing the positive session at
18476 with gain of 58 points or increase of 0.31% 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 68 and increasing
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 we
may see some range bound movement.
MACD of positive 196 and
improving also indicate trend is bullish and we may see this upside momentum to
continue for short term if trend is sustained.
