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Dow’s upward march continue after price managed to extend further up after sustain gain above 10929 level towards a test of 11530 level and thus confirms the rebound in price to be strong one. Our intraday bias is neutral after price manage to trade above 10929. Rebound from 10370 to continue its upwards move towards a sustain trade above 10929 level is needed which level now turns into huge support. In that case, Dow should target a test at 11530 and break above it. In that case, Dow is targeting towards 11836 and thus recovery will deeper.
On the downside, down move below 10724 would be seen after price manage to a sustain gain below upper trend line and 10929 level. If Dow trades below 10724, price is going for further decline towards key support at 10458 where rebound start, if that level doesn’t hold the recovery will be over.
Daily Pivots: Pivot Point – 11035, 1st Support – 10932, 1st Resistance – 11210
