DOW JONES INDUSTRIAL AVERAGE
Open-27488.21--High-27803.86—Low-27488.21—Close-27791.44 on 10.8.2020.
Support:27580.21/27297.59/27095/27025.38/26625.46/26611.03/26297.53/25992.28/25523.51/25369.75.
Resistance:28090/28174.97/28376.49/28872.80/29373.62/29568.57.
(Bold and underlined figures are most important)
Further to my post of 2.8.2020 it has given upside breakout on 6.8.2020 from the range of 25369.75----27297.69 and it is not only maintaining above 27297.65 level for the last three days but has also crossed its recent high of 27580.21 yesterday which it made on 8.6.2020 , which shows extraordinary strength in it. Please note that 27297.59 is the benchmark level for it and if it holds this level then chances are that it could retest its all time high of 29568.57 or may go beyond also. But moving up it will face stiff resistance at 27997----28355----28783----29211 levels and it is a possibility that it may retreat from any of these levels too, so be watchful. The technical setup is strong and indicates up move may continue off course with intermittent correction. In it important to mention here that it will only weaken if it breaks 27297.59 levels and sustain on the closing basis.
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.
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.
Note: Price stated
here are of spot market.
Contact me for strategic guidance to enter and exit trade.
Thanks
Narendra Kumar Surana
Mobile—8240951127/9831313654.
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Thank you for sharing your views.