Tuesday’s Technical Outlook for DJIA (.DJI)
Wall Street indexes closed up Monday but finished off their daily highs, falling sharply ahead of the close Monday, as uncertainty levels among investors is running high.
The DJIA finished the day at 17,804.87, up by 129 pts, the NAS Comp added 0.77% to end at 4,837.21, and the S&P 500 + 0.58%, to finish the day at 2,083.25.
US indexes benefited from the positive finished of their overseas counterparts, as Asian and European stocks finished the day with solid gains on receding Brexit fears.
The DJIA daily shows that the index is hanging around a horizontal 20-Day SMA, the technical indicators have recovered some ground, but lack directional strength around their mid-lines.
In the 4 hours, the index holds above all of its MA’s, but the technical indicators present strong Bearish slopes after testing overbought readings, rather reflecting the late intra-day decline suggesting further slides ahead.
Support marks: 17,825 17,770 17,715
Resistance marks: 17,916 17,987 18,051