As written in the previous post on Dow Jones...Global concerns will be taken care of around 12800 -12900 .. We did see an intra day dip below those levels on the index but did not close below those levels .. Later in a few days we see statements on fed cuts etc etc .. ( concerns taken care of )
DO check the previous views on DOW JOnes as i write very less on it 🙂
https://nooreshtech.blogspot.com/2007/08/dow-jones-technical-view.html
https://nooreshtech.blogspot.com/2007/04/who-says-us-economy-going-to-dogs.html
Current view : The index seems to be in a short term downward channel as shown in the chart .. Should face resistance at 13600 areas .. 2-3 sessions above that would lead to fresh buying and can test higher highs,, Ideally a consolidation would be seen in the range of 13100-13600 unless we close above the levels... Long term chart remains good only and intermediate trend remains bullish till 12800 holds ..
Regards,
Nooresh
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