DOW 30
DOW 30
has been in habit of following our mentioned and analyzed levels and it moved
in our previously mentioned range on expected terms. DOW 30 was in same
trajectory as S&P 500 but traded with weakness as DOW 30 seems to have
entered in consolidation but looked weak on last session as trend needs looking
weak. DOW 30 opened at 18283 and from there made high of 18304 before panic
could make DOW 30 to make low of 18263 before closing the weak range
bound session at 18263 with loss of just 5 points or decrease of 0.03% to the
index.
DOW 30
has immediate Resistance intact around 18310—18445.If this level is positively
breached and sustained then one see DOW 30 resistance building around
18535--18550.
DOW 30 has
immediate Support building around 18150--18040.If this level is breached
negatively and not sustained then one see next support building around 18000--17980.
RSI of
positive 58 and increasing indicate that short term trend is weak and we may
see some profit booking as investors would like to square off their position
and DOW 30 is trading near middle Bollinger band limit and we may see some
range bound movement for short term and also the fact that DOW 30 has been
trading with weakness for consecutive sessions.
MACD of
positive 99 and decreasing also indicate that short term trend is weak or
towards consolidation 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!!
