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16 Oct 2014
DJIA trades below April 2014 lows
FXStreet (Mumbai) - US Equity markets have recovered losses to some extent after a better than expected Industrial Production data, however the DJIA is still trading below the April 2014 low of 16,015.32 levels.
The index is trading is trading 1% down at 15,974.5 levels. Moreover, the recovery witnessed on strong Industrial Production data was not strong enough for the Index to sustain above 16,015 levels. The prices have started declining once again after hitting a high of a 16,182.
The prices have driven lower by the stocks like Goldman Sachs and Merck & Co which have shed 3% each. Almost all the stocks included in the index are trading lower except the United Health stock, which is trading up by 3.6%.
DJIA Technical levels
DJIA has failed to sustain above 16,015 levels, opening doors for a further sell-off to 15,900 levels.On the flip side, the index can rally to 16,200 levels if the prices sustain above 16,015 levels.
The index is trading is trading 1% down at 15,974.5 levels. Moreover, the recovery witnessed on strong Industrial Production data was not strong enough for the Index to sustain above 16,015 levels. The prices have started declining once again after hitting a high of a 16,182.
The prices have driven lower by the stocks like Goldman Sachs and Merck & Co which have shed 3% each. Almost all the stocks included in the index are trading lower except the United Health stock, which is trading up by 3.6%.
DJIA Technical levels
DJIA has failed to sustain above 16,015 levels, opening doors for a further sell-off to 15,900 levels.On the flip side, the index can rally to 16,200 levels if the prices sustain above 16,015 levels.