Dow Jones (INDU) Moves Up For the 2nd Day In A Row; in an Uptrend Over Past 90 Days
The Hourly View for INDU
Last Updated January 1, 2021, 12:19 GMT
Currently, Dow Jones’s price is down -1.6 (-0.01%) from the hour prior. This is the 2nd hour in a row Dow Jones has seen its price head down. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. price action traders may also wish to note that we see a pin bar candlestick pattern on Dow Jones. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Dow Jones Daily price Recap
Dow Jones is up 0.65% (196.92) since the previous day, marking the 2nd day in a row an upward move has occurred. Out of the 14 instruments in the equity indices asset class, Dow Jones ended up ranking 2nd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Dow Jones.
Dow Jones Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 10 days.
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