News
Dow drops on US fiscal concerns, natural gas futures keel over as EUR/JPY slips
Dow is seen dropping
Having reached a 2 1/2 month high at 42,842, marginally above its 42,821 late March high, the Dow Jones Industrial Average has fallen back below its 200-day simple moving average (SMA) at 42,318 close to last week’s low at 41,778 on US fiscal concerns.
The index is expected to come further off and fill its 41,899 to 41,512 early May price gap and may also revisit its 55-day SMA at 41,134 and its April-to-May uptrend line before recovering.
Minor resistance above the 200-day SMA at 42,318 can be spotted at Tuesday-to-Wednesday’s price gap at 42,439-to-42,485.