Tuesday’s Technical Outlook for the DJIA (.DJI)
Monday, all major US stock market indexes finished in the Green, with the DJIA + 106 points to end at 18,004.16, !st time above the Key 18,000 mark since July 2015.
The NAS Comp advanced 0.44% to close at 4,960.02, and the S&P + 13 points to finish at 2,094.34.
The benchmark index is set to continue advancing, as in the daily, its well above a now Bullish 20-Day SMA, and the Momentum indicator is bouncing from its 100 mark, as the RSI indicator resumes its advance near overbought territory.
In the near term
The 4 hours’ technical indicators have turned South after extending above their mid-lines, suggesting some consolidation ahead. But, as long as the index holds above its 20-Day SMA, currently around 17,902, the analysts are favoring the Northside.
Support marks:27,902 17,866 17,814
Resistance marks: 18,025 18,105 18,171
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