Monday, July 23, 2018

Dow Jones - 23 July 2018

  • Stocks
  • Dow Jones

Fundamental Highlights

U.S. stocks closed slightly lower despite positive earnings releases on Friday. New questions surrounding government policy on both escalating trade tariffs and the dollar tampered the market's buying sentiment. Dow declined 6.38 points to 25,058.128. We have no major fundamental or economic news on the grid today so we can expect a consolidation around the 25000.

Technical Analysis

The Dow Jones Index closed at 25058 being slightly negative. It is a calm day for US markets and we expect a consolidation around the 25000. However, once price breaks under the 25000 points towards 24800 more downside is likely to come. On the flip side, if a bullish breakout above the resistance trend line at 25300 takes place, it would confirm a potential uptrend continuation and possibly establish new quarter highs.

Support: 24800 24415
Resistance: 25300 25590

Chart (H4)