A TECHNICAL UPDATE ON DOW JONES INDUSTRIAL AVERAGE –24.2.2025

 

DOW JONES INDUSTRIAL AVERAGE

Open—43820.13--High—43956.32—Low—43349.83—Close—43428.02 on 21.2.2025.

Support:43373.98/43325.09/43114.79/42938.87/ 42660.09/42628.32/42544.22/42146.33/41864.47/41831.74/41647.30/41577.97/41376/41195.64/40584.47/40297.33/39994.24/39905/39868/39809/38908/38499.27.

Resistance:43885.52/44104.48/44431.78/44486.70/44630.43/44710.16/44769.05/44962.81/45054.36/45073.03.

It made an all-time high of 45073.63 on 4.12.2024 and then corrected and thereafter in the month of Jan-2025 last week it tried to cross this high but failed and now gotten into very normal correction mode, therefore likely to drift down further from here provided it does not move above the range of 44285.02—44301.52---44431.78 and sustain on the closing basis. Moving down from here it may broadly find support at 43360---43085---42938---42660---42544---42332---41864----41647, it may bounce back from any of these points, but break below each point will weaken it, break & sustained close below 42938 will push it into proper correction mode, break & sustained close below 42660 & 42544   will dampen the chances of a continued up-move in the year-2025, break & sustained close below 42332 can drag it down to 41647 and finally  break & sustained close below  41647 will push it into deep correction mode and if it sustain below it for a longer period then the correction could be very painful price-wise and time-wise both and may seek much lower levels in coming times, which may please be noted.

Furthermore, it is important to mention here that as of now almost all the important technical indicators are also giving weak signal on the daily, weekly & monthly chart. Therefore further fall looks inevitable in coming times.

NOTE: - It is a technical assessment of the indices as of now, the technical interpretation changes with the price movement and time; therefore it needs periodic review, which may please be noted.

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. It is for educational purposes.

Kindly note that make your cost your stop loss in favorable 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

suranank@gmail.com

Mobile—8240951127/9831313654.