Thursday, July 19, 2018

Dow Jones -19 July 2018

Tags
  • Dollar
  • Stocks
  • Dow Jones

Fundamental Highlights

U.S. stocks closed in modest gains, as market participants welcomed the earnings reports and the measured tone from the Federal Reserve Chairman Jerome Powell during his two-day congressional testimony. The upbeat outlook for the economy from Fed's Beige Book also provided support for markets. Dow closed up 79.54 points, or 0.3%, marking its 5th consecutive day advance.

Technical Analysis

The Dow Jones Index closed at 25199 level trading around a major resistance. More upside is likely once price breaks above this triangle pattern. A bullish breakout above the resistance trend line at 25300 would confirm a potential uptrend continuation and possibly establish new quarter highs. On the flip side, if the index fails to break the trendline it would form a lower high and pullback towards 24800.

Support: 24800 24415
Resistance: 25300 25590

Chart (H4)

dowjones 19/7/18

 
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