Dow Jones (INDU) Up 0.17%, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for INDU

Last Updated April 9, 2021, 03:018 GMT

At the time of this writing, Dow Jones’s price is down -19.07 (-0.06%) from the hour prior. This is the 2nd hour in a row Dow Jones has seen its price head down. 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 an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 came into today up 0.17% (57.31) from the open of yesterday, marking the 2nd day in a row it has gone up. Relative to other instruments in the equity indices asset class, Dow Jones ranked 13th since yesterday in terms of percentage price change. The daily price chart of Dow Jones below illustrates.

INDU

Dow Jones Technical Analysis

Volatility for Dow Jones has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 8 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!