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 and traded with little hawkishness and moved on
expected terms as DOW 30 opened flat at 18570 and from there made high of 18576
and son as profit booking triggered it to make low of 18501 before finally
closing the weak session at 18520 with
loss of just 46 points to the index or decrease of 0.25% to the index.
DOW 30
has immediate Resistance intact around 18620--18635.If this level is positively
breached and sustained then one see DOW 30 resistance building around 18710--18750.
DOW 30
has immediate Support building around 18500--18460.If this level is breached
negatively and not sustained then one see next support building around 18330--18275.
RSI of
positive 59.83 and decreasing indicate that short term trend is towards
consolidation as Key inflation data ahead we may see more panic if mentioned
supports are not sustained positively.
MACD of
positive 104.07 and decreasing also
suggest that current trend is towards consolidation and once positional
resistance are sustained then we may see sharp upside move.
