Dow Industrial Average last week closed flat at 21797.79 with 13.47 points are 0.06%. Let’s analyze what would happen for next week.
Dow Industrial Average Last week opened at 21912.37 and immediately went to the weeks high at 21921.09. And the index starts to grind lower and hits weekly low on Tuesday at 21709.63. After that, the index becomes range bound and closed the week at 21797.79.
Dow Industrial Average Weekly Analysis:
The Dow Industrial Average Index forms higher low on every fall which is a good sign for bulls. But good resistance is building up at 21850. The Dow industrial average index has strong resistance at 21919. So it is wise to sell the index if it opens gap up. 21780 is strong support for the index if the support is broken then the index may fall to the levels of 21600.
For intraday 21850 is a strong support if it is broken expect quick fall toward 21700 and 21600. If the index manages to hold then the index may rally towards 21919 and 21984.