What will move the Dow Jones Index today? ADS Securities’ team of market analysts shares their 2 March Dow Jones trading outlook.
2 March, ADS Securities – The Dow Jones index registered significant losses for the third successive session yesterday, dragged down by a fall in healthcare, retail and consumer sector stocks. Moreover, the announcement from the US President, Donald Trump, on executing new tariffs on steel and aluminum imports, weighed on the index.
2 March Dow Jones Trading Outlook
On the 1H chart, the index is trading below its short-term and long-term EMAs, reflecting on the bearish momentum in the coming session. Additionally, the MACD indicator is moving downwards, further endorsing the above view. Key technical support is placed at the 24530 level, followed by the 24475 and 24420 levels.
A breach below the latter might trigger further negativity in the index. Conversely, intraday resistance is aligned at the 24640 level, followed by the 24695 and 24745 levels. A surge above the latter might lead to bullishness in the index.
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