DOW
JONES INDUSTRIAL AVG INDEX
CLOSED
AT 26447.05 ON 5-10-2018
SUPPORT: - 26349.34/26301.81/26167.94/26030.35/25800.35/25754.32/25608.02.
RESISTANCE: - 26616.71/26769.16/26951.81/27060/27530.
(Figures in bold are important)
Technically
it is looking good on the chart, but after making an all time high of 26951.81
on 3-10-2018 it has fallen below its breakout top of 26616.71, so till it moves
above it again and sustain it may not regain up momentum. Therefore till then
it may move sideways or may correct from here. In fact it has been correcting
for last two days. So correction may continue for some time and it may down
further from here ,moving down it will find
good support at 26167/25800—754 levels, but it could go in for deeper correction
if it breaks below 25754 and sustain. Therefore it is suggested to try long
trade either above 26616.71 or near the aforesaid support points but not below
25754.
REMARK: - It
is in uptrend therefore long trade is suggested as mentioned above, but it would be safe to try long trade if it
moves above 26616.71 and sustain.
Kindly note that make your cost your stop loss
in favourable trade and then trail it as
the price move up/down to gain maximum profit and avoid losses. Use support and
resistance levels as entry, exit, target and trailing stop loss points. DO NOT TRADE WITHOUT STOP LOSS.
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
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