The Dow Jones Industrial Average (DJIA) is going through a moderate advance in a cautious session on Tuesday morning.
Dow Jones index advanced moderately with geopolitical tensions limiting gains. Good quarterly earnings from United Health and Morgan Stanley provide optimism. Technical picture remains bearish with
index is trimming some loose ends on Tuesday although the overall picture remains bearish. The move below 38,560 has activated a Head & Shoulders pattern that points toward a sharper decline. Immediate support is 37,586, followed by the measured target of the H&S pattern, which meets the mid-January low and 38.6% Fibonacci retracement at 37,087. A bullish reaction might find resistance at the 38,531 previous support ahead of the 39,000 region .
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