The DOW index fell 0.87% to close at 25169. A report stating that a meeting between the US and China seems unlikely before the March trade deal deadline reigniting worries over trade tensions. Additionally, slowing growth in Europe and China, evident in weak economic data, casts a shadow on the global economy. US corporate earnings came in mixed and investors will have to digest a slew of negative headlines which might halt the recent rally in US equities.
The Dow index fell to the lower Bollinger band currently looking for support around the 200-day MA at 25010 to bounce off of and resume its uptrend. Sustained price action above the 50-period MA will keep the index in positive territory with a move over the 25150 level indicating the return of buying pressure. Alternately, trading through the 25000 level may push price to a lower level at 24890.
Support: 25000 / 24890
Resistance: 25150 / 25370