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 18239 and from there made high of 18249 before
panic could make DOW 30 to make low of 18189 before closing the
weak range bound session at 18194 with loss of 54 points or decrease of
0.29% 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 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!!
