Dow Jones index is Bullish above 25895 in the last session. What factors contributed to this? This is mentioned on the 23 February Dow Jones Technical Analysis.
27 February, ADS Securities – The Dow Jones index posted significant gains in the last session, supported by a surge in industrial and technology sector stocks. Moreover, shares of Cisco Systems Inc., 3M Co. and Intel Corp. emerged as the top gainers of the index.
27 February Dow Jones Technical Analysis
At present, the index is trading above the short-term and long-term EMAs on the 1H chart, indicating at a bullish technical picture. Also, the MACD indicator is trading at a higher level above its midline, further affirming the above view. Important resistance is placed at the 25765 level, followed by the 25825 and 25895 levels.
A break and stability above the latter might generate further upside momentum in the index. On the flipside, key support is located at the 25650 level, followed by the 25590 and 25530 levels. A breach below the latter might reverse the trend to bearish.
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