Dowjones at its 1st Support

After failing its uptrend at 12935, as analysed on our 19th July "Dowjones at Critical Level" post, if quickly fell towards its first support at 12700. Since MACD has not completely turned into -ve crossover, Dow may take support now at 12700 and attempt a re-test of 12900+ resistance area . High risk traders can initiate long now at 12711 with SL at 12690-40 area. Low risk trades can wait for confirmation of support/reversal signs and watch if Dow will break its 12700 support and fall towards 12500.
                                                          Click on image to expand