Dow Jones analysis
In our last dow jones update we told you wall street looking weak and it tumbled from 18100 till 17600 now. Again our view has not changed much since then just levels has to be refreshed now.
Main problem is Greece crisis which is very important and still not clear whats gonna happen with Greece. If wall street click our technical support of 17380 and sustain below our major support then expect fresh selling in dow upto 17200 – 17000.
If DJIA click our trading resistance of 17720 and sustain above our resistance then expect this major world indices to fire upto 17880- 18000 in short term.
Greece is a major concern and market may react very volatile if it decided to default on upcoming payments. So better stay very cautious and trade with small positions in market.
Dow jones analysis conclusion: Dow jones trend is still weak but Greece financial crisis may turn trend and can spark good buying in index.
Even Dollar Index is trading with major uncertainty due to Greece financial crisis. This even could lead to start a chain reaction in world economy. Euro zone is already in pressure from various countries willing to opt out from Euro.
Comex gold price is in positive zone due to uncertainty in world economy. Once Greece default and its really good chanced it might default this time. Then it could be mayhem and gold investors may have a field day this time. We are not recommending any buy in gold purely based on speculations.
We are just advising not to remain short in xauusd. Markets are very uncertain due to Greece financial issue. Once this event is passed and matter is resolved then we may think to resume trading. Till then stay safe and trade with low qty. Better not to trade only.
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