Dow Jones Industrial Average Technical Analysis

By | September 30, 2015

Dowjones trading today at 16260 almost 200 points up from its last closing , rosy rosy picture ? oh well i am not buying in market atleast not at these levels , call me paranoid or biased but slight change in Employment change does’nt give a reason for 200 points jump in market its a quarter closing and many funds giving artificial lift to the market .

For now sell on rise would be a strategy but we will follow chart and our charts are still in positive zone so no selling here for now , but a good resistance in dow jones at 16410 once US 30 cross this and sustain above this level then expect more explosion upto 16550 – 16700

If dow jones industrial average index click our technical major support at 16080 and sustain below our major support then expect pain to start upto 15930 – 15770 and even more

Dow jones industrial average analysis conclusion : Right now trend is positive but we are not buying right now

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