The Dow Jones 30 treads water as strong US jobs data may underpin aggressive tightening. The index has found bids over 32500. June’s high at 33300 is a major resistance. The RSI’s repeated overbought condition may cause a pullback as profit-taking meets fresh selling in the supply zone. A bullish breakout would trigger momentum buying and flush out a slew of medium-term sellers, which would pave the way for an extended recovery in the weeks to come. A fall below 32500 would trigger a correction towards 32000.
