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Dow Jones 30 Breaks Support

The Dow Jones 30 weakens as fewer jobless claims point to a tight US labour market. The mid-December liquidation point at 34400 has proved to be a tough level to crack. The price’s sharp reversal suggests that the bears could still have the final word. A clean cut through 33700 then 33400 has put the bulls on the defensive, with the latter becoming a fresh resistance. The index is now probing bids at the lower band of a previous consolidation at 32850. The RSI’ oversold condition may attract some bargain hunters.

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