What contributed to Dow Jones index’s downtrend yesterday? How is it currently trading? All of these are discussed on the 1 March Dow Jones Technical Analysis. Read On!
1 March, ADS Securities – Yesterday, the Dow Jones index extended its downtrend for the second consecutive session, weighed down by losses in healthcare and energy sector stocks. Moreover, shares of Caterpillar Inc., DowDuPont Inc. and UnitedHealth Group Inc. emerged as the top index laggards.
1 March Dow Jones Technical Analysis
As of now, the index is trading with a downside bias on the 1H chart, indicating the bearish momentum in the coming session. Besides, a centreline crossover by the MACD indicator to enter its negative territory further elaborates the above stance. Important support is located at the 24965 level, followed by the 24920 and 24870 levels.
A breach below the latter might trigger further weakness in the index. On the contrary, key resistance is seen at the 25080 level, followed by the 25130 and 25200 levels. A surge above the latter might lead to positive momentum in the index.
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