DOW JONES INDUSTRIAL AVG INDEX- A SHORT TECHNICAL UPDATE-16-4-2016

DOW JONES INDUSTRIAL AVG INDEX-

CLOSED AT 17897.46 ON -15-4-2016.

                                                                           

SUPPORT:- 17750.02/17796.76/17811.48/17484.23/17425.03/17405.48/17399.01/17210/17116.73/16887/16827.86/16510.40/16165.86/15979.95/15942.37/15803/15503/15450.56/15370.33/15340.69/14760/14719.43/14681/14551.27/14444.03.

 RESISTANCE:-

17914.34/17977.85/18137.12/18188.81/18351.36.

(Figures in bold are important)

Further to my last post of 10-4-2016, technically it is still on a sound footing, but please note that it had short movement in last two days, therefore it seems that it is bracing for a big move on either side in a day or two, upside if it moves above 17980 and downside if it moves below 17790 .It is at mid point now. Please note that the trigger point for moving down is at 17867, so if it sustain below this mark for sometime, it is likely to move down. Since it is close to the down trigger point, chances of moving down looks reasonably good. So watch out how this observation goes.    

  

Disclaimer:-The view expressed here are solely of the author and he is not at all responsible in any way for the outcome of the trade you enter based on the above view.

Note: Price stated here is of spot market.

Contact me for strategic guidance to enter and exit the trade.