Major trend of Dow Jones
30 is bearish on daily charts. It has given upside recovery in last
week trading session. It is again showing good recovery from lower
level. It is likely to give northward movement in upcoming session
as it has give closing below 50 DMA and trading with resistance of
200 DMA on hourly chart. On lower side it has support level of
16100. If it manages to sustain above 50 DMA and gives break out
above 200 DMA then it would bring a strong confidence to reach 16700.
Currently it is having resistance of 16400.
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| Dow Jones |
INDICATOR:-
RSI is about to cross up the 50 mark on hourly chart
time frame. On ADX is likely to move up with strong accumulation on
chart. ADX trading above 35 mark. If it sustain above the same then
index would come in positive territory with positive DI has crossed
up negative DI.
