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MUMBAI, Aug 15(www.GoldTradingCalls.com) Dow Jones Industrial Average futures afte making an lower intermediate top at 10,179 has commenced its intermediate downward move.
Stocks on Wall Street fell for a third straight session as investors continued to fret about the health of the global economy.
New data included an unexpected rise in US weekly jobless claims while technology bellwether Cisco Systems reported revenue that fell short of forecasts and offered a gloomy sales outlook.
The Dow Jones Industrial Average closed 58.88 points, or 0.6%, down at 10,319.95. It fell as much as 110 points early in the session before recovering some ground.
Crude Oil prices fell more than $5 this week as a string of economic indicators showed that the economic recovery is slowing around the globe, raising fears of weakening crude demand.
Our Inhouse anlaysis confirms Don jones index futures makes a lower intermediate top at 10,179 and has commenced its downfall and should gain minor support coming at 10,167 and 10036.
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