Friday’s Technical Outlook for DJIA (.DJI)
Wall Street indexed rose in the last hour of Thursday’s session, with DJIA settling above the 18,000 level for the 1st time in over 2 weeks. The upward momentum in US equities was backed by markets’ positive mood, based on Wall Street bets that the UK referendum will finish with a “remain” victory.
Which now we know did not happen, and global markets are selling off.
The DJIA closed the day up 230 pts or 1.29%, at 18,011.07
The NAS Comp added 1.59%, to end at 4,910.04.
The S&P 500 added 1.34% and closed at 2,113.32.
The daily for the DJIA shows that the index has advanced beyond its horizontal 20-Day SMA, but the Momentum indicator was flat around its 100 mark, but the RSI indicator heads North around 61, supporting possible gains.
In the 4 hours, technical indicators head sharply higher within Bullish territory, and the 20-Day SMA extended above the 100 and 200-Day SMAs and maintains upward slope below the current mark, which suggests the risk towards the Northside.
Support marks: N/A
Resistance marks: 18,051 18,103 18,165