How will the Dow Jones Index trade today? ADS Securities’ team of market analysts share their 16 March Dow Jones trading outlook.
16 March, ADS Securities – Following three straight bearish sessions, the Dow Jones index rebounded in yesterday’s session, supported by gains in industrial and financial sector stocks. Moreover, shares of Exxon Mobil rose following a rating upgrade from a top broker.
16 March Dow Jones Trading Outlook
As of now, the index is trading with a slight upside bias on the 1H chart, reflecting on a bullish momentum in the coming session. Key resistance is situated at the 24925 level, followed by the 24980 and 25130 where the EMA 200 is placed. A surge above the latter might trigger further positivity in the index.
However, the MACD indicator is tranquil below its midline, suggesting at possible correction over intraday basis. Key technical support is aligned at the 24820 level, followed by the 24770 and 24710 levels. A move back below the latter might lead to weakness in the index.
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