Tuesday, July 17, 2018

DOWJONES - 17 July 2018

Tags
  • Dow Jones

Fundamental Highlights

U.S. stocks closed in mixed sentiment. Dow marked its third gain in a row, but the broader market finished slightly lower as the sell-off in the energy sector weighed on the market. The Dow closed slightly up about 45 points trading at 25064, with the energy sector falling 1.2% amid a rout in crude-oil futures. While the banking sector enjoyed a bounce as Treasury rates climbed, investors focused on second-quarter results, and a summit between President Donald Trump and Russian President Vladimir Putin, which drew rebukes from Democrats and Republicans, for treating Putin like an ally.

Technical Analysis

The Dow Jones Index closed slightly above the 25000 level, while still trading in a triangle chart pattern. More upside is likely once price breaks above the triangle pattern. A bullish breakout above the resistance trend line at 25200 would confirm a potential uptrend continuation. A break below the support 24700 however would indicate a bearish reversal or extended correction. Volatility remains a concern and the index has been very choppy recently.

Support: 24700 24300
Resistance: 25200 25450
dow

 
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