The Hourly View for INDU
Last Updated March 2, 2021, 01:015 GMT
At the time of this writing, INDU’s price is down -12.02 (-0.04%) from the hour prior. The hourly chart shows that INDU has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. price action traders may also wish to note that we see a pin bar candlestick pattern on INDU. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on INDU; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Dow Jones Daily price Recap
The back and forth price flow continues for Dow Jones, which started today off at 31535.51 US dollars, up 1.95% (603.14) from the previous day. Relative to other instruments in the equity indices asset class, Dow Jones ranked 5th since the previous day in terms of percentage price change. The daily price chart of Dow Jones below illustrates.
Dow Jones Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Dow Jones crossed above its 20 day moving average yesterday. Volatility for Dow Jones has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Dow Jones’s price has gone up 6 them.
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