Dow Jones – Highly Oversold and a Buy Opportunity

We have seen a 1000 point + correction on Dow Jones.

Its trading close to its 200 dema but more importantly has hit RSI oversold zones.

Previous such RSI transitions have led to a strong bounce.

Also further dips will take it to trendline/channel supports.

One can spread out the buying from current levels or get in slowly in dips to 15000-15300. A reversal above any days highs on hourly basis could also be a turnaround signal.

 

 

 

Thanks and Regards,

Nooresh Merani

www.analyseindia.com

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