The Dow Jones 30 slips as the market awaits the Fed’s policy guidance. The rally came under pressure in the supply zone around 34100, right under the previous swing high of 34360. A combination of profit-taking and fresh selling could drive the price action lower for the time being. A bullish MA cross on the daily chart is an encouraging sign and as sentiment is skewed to the recovery mode, the bulls are expected to buy the dip. 33650 is the first level to gauge the strength of follow-up interest with 33300 as a second layer.
