The Dow 30 is a widely-watched stock market index comprising 30 large U.S. publicly traded companies. It is also called the "Dow" or the "Dow Jones Industrial Average". Price moving in a range from 04-May-2023 till now as shown in the price chart. Right now price is traded near the support area ( $33017-32910 ).RSI ( relative strength index ) is near the oversold area and Volume indicates bears lose momentum and bulls try to push the price upside from this support area as mentioned in the price chart. Before initiating long positions wait is favorable until finding a bullish price action structure. On the other side, the Price traded below the 200 MA ( moving average ) indicates a bearish trend is still in line, So wait to initiate short-selling positions till the price rejects the resistance area ( $33557-33792 ) or at least close below 200 MA.
Support and Resistance levels for day trading ;
Pivot Point Level: PP 33,162
Support Levels: S1 32,921, S2 32,765, S3 32,524
Resistance Levels: R1 33,318, R2 33,559, R3 33,715
Support and Resistance levels for day trading ;
Pivot Point Level: PP 33,162
Support Levels: S1 32,921, S2 32,765, S3 32,524
Resistance Levels: R1 33,318, R2 33,559, R3 33,715