Thursday, July 26, 2018

Dow Jones -26 July 2018


Fundamental Highlights

U.S. stocks closed higher for the 3rd consecutive day. The Dow gained 172 points to 25415 as expected, the index was boosted after new talks between US and the EU helped ease trade tensions. In addition the major components of the Dow are reporting positive earnings and revenues, pushing the index higher .

Technical Analysis

The Dow Jones Index closed at 25415 after breaking above the triangle upper trendline. Once price breaks above the 25415 June highs it points towards the 25585 area and more upside is likely to come and possibly establish new quarter highs. On the flip side, if the index doesn't break above this major resistance level, it would suggest a potential downwards reversal.

Support: 24850 24635
Resistance: 25585 25790

Chart (H4)

dowjones 26/7/18