The Dow Jones index finished in negative territory yesterday, as technology sector stocks registered losses, following a sharp decline in shares of Facebook. This 20 March Dow Jones Trading Outlook from ADS Securities will tell us how the index is trading today.
20 March, ADS Securities – Dow Jones industrial average and Nasdaq 100 edged higher Tuesday morning after Facebook and other leading techs led a stock market sell-off Monday.
20 March Dow Jones Trading Outlook
As of now, the index is trading below the short and long-term EMA’s, hinting at a weakness in the coming session. Moreover, the 1H MACD is trading in the negative territory, further confirming the above stance. Key support is placed at the 24400 level, followed by the 24200 and 24100 levels.
A move back below the latter might trigger a further acceleration to the downside. On the contrary, important resistance is located at the 24800 level, followed by the 24878 where the EMA 55 is placed and 25078 where the EMA 200 is located. A move back above the latter might lessen the bearish pressure in the index.
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This article was provided by analysts of ADS Securities.
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