Wednesday, July 25, 2018

DOWJONES - 25 July 2018


Fundamental Highlights

U.S. stocks closed higher on Tuesday. The Dow was boosted by strong earnings as the vast majority of companies in the index have posted stronger-than-expected earnings and revenue. The index gained 197 points to 25242. However, traders are still worried about escalating trade tariffs and the dollar's performance which tampered the market's buying sentiment.

Technical Analysis

The Dow Jones Index closed at 25242 back again near the triangle upper trendline. Once price breaks above the 25300 points towards the 25415 June highs more upside is likely to come and possibly establish new quarter highs. On the flip side, if the index doesn't break above the resistance trend line at 25300, it would confirm a potential downtrend continuation towards the lower side of the triangle formation.

Support: 24800 24415
Resistance: 25415 25585

Chart (H4)