Dow Jones PlummetResearch & Analysis
Dow Jones Plummet
The Dow Jones closed lower by 1063 points or 3.12% posting its worst single-day drop since 2020.
From the technical perspective, the momentum indicator suggests a downtrend since the MACD is negative and the histogram values are decreasing, resulting in downside momentum which is increasing.
Simple moving averages of 20,50,100 and 200, are above the price signaling that the momentum is to the downside.
First support level is at 32808.99 followed by 32200.33 and 31215.13. Upside pressure could push the index towards the first resistance point 34779.4 followed by 35388.06 and 36373.27.
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