Commodities

Sunday, 6 April 2025

A TECHNICAL UPDATE ON DOW JONES INDUSTRIAL AVERAGE –7.4.2025

 

DOW JONES INDUSTRIAL AVERAGE

Open—40097.90--High—40097.90—Low—38264.87—Close—38314.86 on 4.4.2025.

Support:38305.85/38264.87/38000.90/37754.38/37611.56/37124.52/36952.65/36562.03/36058.90/35824/35679/34700.49/34006/33613/33271.93/32586/32327.70/31429.82.

Resistance:38457.83/38499.27/39618.20/38908.99/39277/39282.28/39571.23/39809/39868/39889/39905/39994.24/40297.33/40584.47/40661.77/40842.29/41195.64/41376/41433/41647.30/41831.74/41864.47/42051.39/42146.33/42174/42361.38/42628.32/42554.22/52660.09/42819.41/42938.87/43135.92/43325.09/43373.98/43885.52/44031.52/44104.48/44486.70/44630.43/44710.16/44769.05/44962.81/45054.36/45073.03.

It has been opening with a down gap for the last two days. Please note that if it makes an effort to fill the gap by 10th & 11th April-2025, which is technically possible then it can come up to 40518.01 & 41644.23 level, but if fails to fill the gap in the stipulated time then the chances of filling the gap will recede for the time being. But please note that it will fill the gap some day for sure.

Technically it is on a terribly weak footing now and into deep correction mode and most importantly long term uptrend is severely threatened and in jeopardy, as it is way below all its long term moving averages on the daily chart as of now, therefore further fall looks inevitable in coming times with in between short relief rallies. However, if it manages to hold the point of 38265 then it may stage a mild recovery but that may not last, and it may continue the down move again. Moving down further its good support points or range could be at 38000---37808---37611---37278---37124----36952---36652---36210---36058.90, it may bounce from any of these points because it is a strong bounce back range, but break & sustained close below 37124 may trigger fresh fall and it may witness an accelerated fall and finally break & sustained close below 36058.90 will push it into confirmed bear market territory and if it stays below it for a longer period of time then correction or the down move could be very painful time-wise & price-wise both, which may please be noted. Therefore 36058.90 is the crucial or make or break support point.

Similarly if it moves above 39340 & 39872 (figure will change and will be scaled down if it breaks the low of 38264.87) and sustain then a mild extension of recovery may happen, else down move will continue. The short, medium and long term bias is hugely negative as of now.

Furthermore, it is important to mention here that as of now almost all the important technical indicators are weak on the daily, weekly & monthly chart. Therefore in totality further fall looks inevitable as of now and it may seek much lower levels in coming times may be with short in between relief rallies.

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.

 

 

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