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 and traded extremely
flat as DOW 30 seems to have entered in consolidation phase as DOW 30 opened at
18336 and from there made high of 18374 and low of 18307 before
closing the weak range bound session at
18309 with loss of 21 points to the index.
DOW 30 has immediate Resistance intact around 18400—18485.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 18285--18250.If
this level is breached negatively and not sustained then one see next support
building around 18150--18040.
RSI of positive 54 and decreasing 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 107 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!!
