Dow Jones (INDU) 4 Day Up Streak Broken; Eyes 20 Day Average

The Hourly View for INDU

Last Updated June 1, 2021, 02:018 GMT

At the moment, Dow Jones’s price is down 1 (0%) from the hour prior. Dow Jones has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Dow Jones. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 50 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

Dow Jones is down 0.32% (110.11) since the previous day, marking a reversal from the day prior — and the end of a 4 day positive run. Out of the 14 instruments in the equity indices asset class, Dow Jones ended up ranking 7th for the day in terms of price change relative to the previous day. The daily price chart of Dow Jones below illustrates.


Dow Jones Technical Analysis

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. Or to view things another way, note that out of the past 30 days Dow Jones’s price has gone up 18 them.