The chart of the Dow Jones Index is showing a different view of the US stock market.
The Dow Jones Index broke above the bearish trendline on 10 November 2022 and it looks like this trendline is now acting as support (see the green circle in the chart).
The whole area between 32400 and 32900 is potentially a strong support zone for the index price since it has a confluence of many technical levels, such as the 200-day MA (green moving average), the horizontal support at 32575, the cross of the bearish trendline and the 50-day MA (red moving average).
Therefore, the price action of the Dow Jones Index is bullish, compared to the price action of the S&P 500 and Nasdaq indices, which are bearish instead.
Based on this, we can expect the price to rise and test the 21-day MA (blue moving average) in the upcoming days and potentially move up to the resistance at 34837.
So, what is the Dow Jones saying?
If the Dow acts as a leading index for the overall US stock market, we could expect also the S&P 500 and the Nasdaq indices to turn bullish in the upcoming days.
Therefore, watch closely the price action of this index for clues on the next market direction.
The Dow Jones Index broke above the bearish trendline on 10 November 2022 and it looks like this trendline is now acting as support (see the green circle in the chart).
The whole area between 32400 and 32900 is potentially a strong support zone for the index price since it has a confluence of many technical levels, such as the 200-day MA (green moving average), the horizontal support at 32575, the cross of the bearish trendline and the 50-day MA (red moving average).
Therefore, the price action of the Dow Jones Index is bullish, compared to the price action of the S&P 500 and Nasdaq indices, which are bearish instead.
Based on this, we can expect the price to rise and test the 21-day MA (blue moving average) in the upcoming days and potentially move up to the resistance at 34837.
So, what is the Dow Jones saying?
If the Dow acts as a leading index for the overall US stock market, we could expect also the S&P 500 and the Nasdaq indices to turn bullish in the upcoming days.
Therefore, watch closely the price action of this index for clues on the next market direction.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.