Is Dow Jones 30 is Primed for Further Correction Today. As Asian stocks mixed Europian stocks gained Dow Jones 30 index today will trade in the narrow range. Let’s check Dow Jones Industrial Average technical analysis.
Is Dow Jones 30 is Primed for Further Correction Today:
Wall Street deflated mid-week in a pullback from the best day of the summer a session earlier. Stocks held in the red through to market close on Wednesday, Aug. 23. Yesterday Intel, Boeing, 3M combinedly pull the Dow Jones down by 35 points and United Technologies and IBM defended the Dow 30 by 17 points. Check Real time Dow 30 stocks contribution to the Index here.
The Dow Jones Industrial Average was down 87.80 points or 0.4%. Yesterday Dow 30 opened 21850.27 and immediately fell down to register days low of 21808.39. Then the Dow 30 starts moving upwards and registers day high as 21866.66 and closed the day at 21812.06 near to days low. But Yesterday Dow 30 Doesn’t break the opening hour low.
For today if DJIA index breaks 21808 to 21812 the index starts to grind lower. If the support level holds the index may bounce to the level of 21870.
DJIA Support levels for the Day:
Dow Jones 30 Index has support levels for the day is placed at 21810, 21740, 21700, 21627. Hence support must hold the rally.
DJIA Resistance Levels For the Day:
Dow Jones 30 Index has resistance levels for the day is placed at 21866, 21913, 21980, 22081. Therefore Bounce may be resisted around these levels.