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Tuesday, August 9, 2016

Update On DOW 30,9th August 2016



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 positivity as strong support of 18280 was sustained positively and on expected note as we saw DOW 30 enter in consolidation phase as it opened at 18456 and from there made high of 18477 and finally closed the flat session at 18471 with gain of just 10 points to the index.
                                                                                                                                                                     
DOW 30 has immediate Resistance intact around 18535--18570.If this level is positively breached and sustained then one see DOW 30 resistance building around 18620--18635.

DOW 30 has immediate Support building around 18430--18400.If this level is breached negatively and not sustained then one see next support building around 18360--18275.

RSI of positive 63 and increasing indicate that short term trend is positive and improving and if mentioned levels are sustained then we may see some aggressive buying.

MACD of positive 106 and decreasing  also suggest that current trend is towards consolidation and once positional resistance are sustained then we may see sharp upside move.



More Will Update Soon!!