19 July Dow Jones Index Technical Analysis: Will the Dow continue the uptrend?


The Dow Jones has been trending to the upside since the kickoff of the Q2 earnings season last Friday and for a fourth consecutive day. What’s next? Analysts at ADS Securities shared their 19 July Dow Jones Index Technical Analysis.

19 July, ADS Securities –  U.S. stocks closed in modest gains, as market participants welcomed the earnings reports and the measured tone from the Federal Reserve Chairman Jerome Powell during his two-day congressional testimony.

The upbeat outlook for the economy from Fed’s Beige Book also provided support for markets. Dow closed up 79.54 points, or 0.3%, marking its 5th consecutive day advance.

19 July Dow Jones Index Technical Analysis

The Dow Jones Index closed at 25199 level trading around a major resistance. More upside is likely once price breaks above this triangle pattern.

A bullish breakout above the resistance trend line at 25300 would confirm a potential uptrend continuation and possibly establish new quarter highs. On the flip side, if the index fails to break the trendline it would form a lower high and pullback towards 24800.

Support: 24800 24415

Resistance: 25300 25590

Chart (H4)

ADS Securities Risk Disclaimer

This article was provided by ADS Securities analysts.

Trading foreign exchange, foreign exchange options, foreign exchange forwards, contracts for difference, bullion and other over-the-counter products carries a high level of risk. Hence, it may not be suitable for all investors.

All opinions, news, analysis, prices or other information contained in this communication are provided as general market commentary. It does not constitute investment advice. Nor a solicitation or recommendation for you to buy or sell any over-the-counter product or another financial instrument.

Share Your Opinion, Write a Comment