DOW JONES INDUSTRIAL AVERAGE - Is Challenging the Ascending Trend Line - Neut - 08/22/2017 (GMT)
- Who voted?
- 663
- 0
- Timeframe : Daily
DOW JONES INDUSTRIAL AVERAGE Chart
The Dow Jones Industrial Average index experienced its largest one-day drop in three months and plunged more than 1% last Thursday. The index is snapping the four consecutive monthly winning sessions and is posting a bearish session. Moreover, the price met the 50-day SMA and is ready to challenge the ascending trend line, which is standing since November 2016.
Technically, if the price declines below the uptrend line, it will meet the 21465 support level, while is slightly above the 100-day SMA. On the other hand, the index may create a rebound on the diagonal line and continue its upward tendency. On the short-term timeframe, the RSI indicator is pointing up with weak momentum and the MACD oscillator is falling near its mid-level.
Technically, if the price declines below the uptrend line, it will meet the 21465 support level, while is slightly above the 100-day SMA. On the other hand, the index may create a rebound on the diagonal line and continue its upward tendency. On the short-term timeframe, the RSI indicator is pointing up with weak momentum and the MACD oscillator is falling near its mid-level.
This member did not declare if he had a position on this financial instrument or a related financial instrument.
Add a comment
Comments
0 comments on the analysis DOW JONES INDUSTRIAL AVERAGE - Daily