Thursday’s Technical Outlook for DJIA (.DJI)
Wednesday, US stocks closed in the Red, turning lower after a positive start on increasing uncertainty ahead of the UK vote on its EU membership, which is being seen now as close call.
On the last day before the vote, the “leave” camp is gaining ground according to Opinium and TNS polls released during the US afternoon session Wednesday.
The DJIA fell 48 pts, or 0.27%, to finish at 17,780.83.
The S&P 500 Index declined 3 pts to close at 2,085.44
The NAS Comp lost 10 pts or 0.22%, to 4,833.32.
The DJIA daily shows that the index has turned lower, as it closed the day below its 20-Day SMA, as the technical indicators turned South right below their mid-lines, lacking Southward momentum and not confirming an upcoming decline.
Near term, the 4 hours presents a firmer Bearish tone, given that the technical indicators head sharply South below their mid-lines, as the index is developing below its 20-Day SMA.
Support marks: 17,796 17,730 17,663
Resistance marks: 17,880 17,945 17,987