Looking into Dow Jones investment opportunities? This 31 May Dow Jones Index Trading Outlook from ADS Securities will come in handy!
31 May, ADS Securities – Following three consecutive bearish sessions, the Dow Jones index traded higher in the last session, supported by gains in energy and financial sector stocks. Moreover, shares of Exxon Mobil, Chevron and JPMorgan Chase emerged as the top gainers of the index.
31 May Dow Jones Index Trading Outlook
Currently, the index is trading in an upward trending channel on the 1H chart, hinting at a bullish technical picture. Likewise, a possible centreline crossover by the MACD indicator to enter its positive region, further endorses the above stance. Key resistance is located at the 24725 level, followed by the 24790 and 24865 levels. A surge above the latter might lead to further strength in the index.
Conversely, intraday support is located at the 24595 level where the EMA 200 is placed, followed by the 24540 and 24470 levels. A breach below the latter might trigger weakness in the index.
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This article was provided by analysts of ADS Securities.
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