Dow fell further on Monday after holding in directionless mode during past three days and hit fresh nearly six-weeks low at 20386, where rising 55SMA offered temporary to renewed bears.

Extended wave C, on which the price is currently riding, hit levels below its FE 161.8% (20400), seeing scope for further extension towards next Fibonacci expansion levels at 20344 (176.4%), possibly towards double Fibo support at 20260 zone (FE200% / Fibo 61.8% of 19713/21160 rally).

Session high at 20526 (also 22 Mar low, reinforced by falling 4-hr 10SMA) marks solid barrier.

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Res: 20471; 20526; 20558; 20664
Sup: 20400; 20386; 20266; 20225


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