.
DOW 30
DOW 30 has been in habit of following our
mentioned levels and it has been doing it for some time and traded at our
mentioned levels. DOW 30 has been in consolidation mode for quite some time and
on expected note it took some downside direction and has been moving in a range
for some time and again we saw a weak session as DOW 30 opened at 18458 and
from there made high of 18461 before a small panic could trigger DOW 30 to make
a low of 18242 and finally closed the weak and range bound session at 18431
with loss of 34 points or decrease of 0.16% to the index.
DOW
30 has crucial immediate resistance intact 18485--18550. If this level is
positively sustained and breached then one see next Resistance at 18600--18648.
DOW 30
Support is also intact at 18385--18370.If this is breached negatively and not
sustained then one see next support building around 18265--18175.
RSI of 49
and decreasing also suggest that DOW 30 overall
trend is towards consolidation and we may see DOW 30 to continue the same trend
unless an strong support is made for an upside move.
MACD of
positive 25 and decreasing also suggest that a DOW 30 is trying to form a
strong support at current level and may continue to trade sideways until a
strong support is sustained.
More Will Update Soon!!
