Technical Analysis on the Dow Industrial Average

Edited by Vani Rao

The Dow Jones Industrial Average rose by 0.62% to 15,509.21 on Thursday, and is now trading above the important 15,500 level. Moreover, the Dow Jones Industrial Average is expected to breach the 15,700 level soon. Looking at the individual indicators, the Dow Jones Industrial Average is trading above its 20-day, 50-day, and 200-day simple daily moving average. RSI above 60 indicates that the index is in overbought territory and MACD well below Signal line suggests a bearish trend. The technical indicators provide mixed signals; the Moving averages suggest a Buy signal, whereas indicators like the momentum oscillators and indicators suggest a Sell. The trends look indecisive but fuelled with better-than-expected earnings; the Dow is likely to test 15,700 levels soon. WSA remains positive on the Dow Jones Industrial Average and looking for a new high.

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