Dow Jones futures hourly chart

• Dow Jones futures chart with support and resistance lines
• The index is trading near resistance line and it coincides with the presence of 50 hour moving average.
• Break of resistance with strong volume can push the index at least till 10250-10300.
• If gets resisted by the trend line and the moving average will go below 10100.

Nifty daily chart analysis

• Nifty is trading between its 5 day high and low ema for four days now. But the day range is expanding.
• The raising wedges support trend line may keep the index up for some time.
• It is still trading above its 20 day moving average and an important support line shown in the first chart.
• NIFTY'S CHANNEL BREAK TRADE
  

Dow Jones Hourly Chart

UPDATED CHART

• DOW JONES CLOSED NEAR DAY HIGH. IT HAS CAPTURED THE 50 DAY MOVING AVERAGE  AND CLOSED AT THE 50 HOUR MOVING AVERAGE.

• Dow Is trading below its 50 hour and 20 hour moving averages
• Unless the bulls put up a good fight all bounces will be sold off.