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Dow is heading towards lower trading, after price failed to make a positive reverse and bring back above 12733 resistance level, which will give some strength and will contain down movement, and seems to lose almost all of its strength after failed to make a positive retest of the key resistance level and price rebound from there and is trading towards retest of the key 12733 support level, after price make a big push and extend over 13051 resistance level, Dow needs to make a sustain gain above this level. Dow is still trading below its upper trend line, and dropped towards a retest of the upper trend line and dropped below it, if price couldn’t managed to trade back above its trend line price should plunge towards 12733 support level. Dow is forming a possible flag pattern. Dow’s higher trading give some sign of wear after price broke above 13000 level, after successful breaking above 12733 resistance level and now price is heading towards a retest of the 12733 support level. Dow has managed to break that sideways move, in which it was trading. Dow is trading way above 11835 support level and this clearly shows that Dow gather lots of strength towards to further increase in price. Our intraday bias is bullish as long as price is trading above11835 support level. Price to d above upper trend line. If there is positive break Dow is targeting towards 12385 level. go further up Dow should consolidate above 12290.
On the downside, Dow is should need to drop below 13051 level this would give a sign for lower lows, a this would confirm reversal and price is going for further decline towards key support at 11282.
Daily Pivots: Pivot Point – 12705, 1st Support – 12625, 1st Resistance – 12825
