29 May Dow Jones Trading Outlook: Bearish below 24550

The Dow Jones market was quiet during the day on Monday, as the underlying indices were not open. How does the index trade at the moment? This 29 May Dow Jones Trading Outlook from ADS Securities provides more insights.

29 May, ADS Securities – Yesterday, the trading in the Dow Jones index was closed on account of a US public holiday. The index ended lower on Friday, weighed down by losses in energy sector stocks. Also, traders remained concerned over the cancelled summit between the US and North Korea.

29 May Dow Jones Trading Outlook

As of now, the index is trading with a downside bias on the 1H chart, reflecting at a bearish technical outlook. In addition, the MACD indicator is placed below its centreline, further endorsing the above stance.

Key technical support is aligned at the 24675 level, followed by the 24615 and 24550 levels. A breach below the latter might trigger further weakness in the index. On the contrary, key resistance is situated at the 24800 level, followed by the 24875 and 24945 levels. A surge above the latter might lead to positivity in the index.

ADS Securities Risk Disclaimer

This article was provided by analysts of ADS Securities.

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