DJIA – Bulls watch out for weak closing
Daily Chart
Formation – Possible bearish price-RSI divergence
Resistance – 18,137, 18,188, 18288
Support – 17,977, 17,914, 17,796
Formation – Possible bearish price-RSI divergence
Resistance – 18,137, 18,188, 18288
Support – 17,977, 17,914, 17,796
- A tinge of risk-off was seen in Europe, courtesy of oil price drop. Though oil has recovered there exists a risk-off fresh drop in case US government data shows a big build up in weekly inventory.
- In such a case, the stock markets could follow oil lower and suffer weak closing.
- That will confirm a bearish Price-RSI divergence on DJIA daily chart; something equity bulls need to watch out for.