US30 - Awaits breakout from Triangle Pattern
Resistance - 17,974, 18,086, 18,167
Support - 17,800, 17,662, 17,538
Support - 17,800, 17,662, 17,538
- Dow Jones finds itself trapped inside a triangle formation on the daily chart.
- A break higher on the day end closing basis would indicate the rally from February lows has resumed, in which case immediate resistance at 18,167 could be put to test.
- On the other hand, a break below daily 50-MA level of 17,800 would open doors for a drop to 23.6% Fibo support of 17,538 levels. However, trend reversal is seen only if prices see a day end closing below symmetrical triangle support.
