The Dow showed a lack of direction on Friday spending much of the day bouncing back and forth across the unchanged line before climbing 124 points to end the day closing at 25,413. The choppy trading on Wall Street came as traders seem reluctant to make significant decisions amid uncertainty about the global economic outlook and renewed anxiety about Brexit. This week's trading may be somewhat subdued due to the Thanksgiving Day holiday on Thursday, although reports on housing starts, durable goods orders, and existing home sales are still likely to attract attention.
The index managed to close back above the 20-day moving average pushing through Thursday's high. While this is a sign of a reversal on the long term, things look slightly different on the short-term, with the Dow Jones still trading below the 200-period moving average and below key technical resistance levels at 25275 and 25555 on a 4H chart, and the RSI looking mixed to bearish signaling downside momentum ahead at least for the next few hours.
Support: 25000 / 24355
Resistance: 25275 / 25555