31 July Dow Jones technical analysis

The Dow Jones index ended in the green on Friday. This 31 July Dow Jones technical analysis from ADS Securities will tell us how the index is trading today.

31 July, ADS Securities – Notching a new record high level at 21841.18, the Dow Jones index ended in the green on Friday, following robust profits from the nation’s major energy companies, Exxon Mobil Corp. and Chevron Corp.

31 July Dow Jones technical analysis

Presently, the index is trading with an upward trending channel on the 1H chart, hinting the presence of bullish momentum in the coming session. Also, the MACD indicator is trading at a higher level above its centreline, further confirming the above stance.

Key resistance is located at the 21900 level, followed by the 21950 and 22000 levels. A sustained break above the latter might lead to a further upside momentum in the index. On the contrary, key intraday support is positioned at the 21795 level, followed by the 21755 and psychological 21700 levels. A breach below the latter might turn the main trend to bearish.

31 July Dow Jones technical analysis

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