Tuesday, July 24, 2018

Dow Jones - 24 July 2018

  • Dow Jones

Fundamental Highlights

U.S. stocks closed mixed on Monday. The S&P was boosted by financial shares and investors are digesting another round of positive corporate earnings. The Dow declined 13.42 points to 25,044.70, while the S&P rose 5.14 points to 2,806.97.
New questions surrounding government policy on both escalating trade tariffs and the dollar tampered the market's buying sentiment.

Technical Analysis

The Dow Jones Index closed at 25044 being slightly negative. Still, 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)
DOW Chart - 24 July 2018