The Hourly View for INDU
Last Updated June 7, 2021, 17:18 GMT
At the moment, Dow Jones’s price is down -22.02 (-0.06%) from the hour prior. Dow Jones has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on Dow Jones. Given that we see downtrend on the 5 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Regarding moving averages, it should first be noted that price has crossed the 100 hour moving average, resulting in them with price now being below it. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Dow Jones Daily Price Recap
Dow Jones is up 0.09% (30.04) since the day prior, marking the 2nd straight day an increase has occurred. Relative to other instruments in the equity indices asset class, Dow Jones ranked 7th since the day prior in terms of percentage price change. 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 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Dow Jones’s price has gone up 10 them.