The Hourly View for INDU
Last Updated February 16, 2021, 23:18 GMT
At the moment, Dow Jones’s price is down -6.01 (-0.02%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. Regarding the trend, note that the strongest trend exists on the 20 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 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 closed yesterday up 0.64% (202.51); this denotes the 2nd consecutive day an increase has occurred. Relative to other instruments in the equity indices asset class, Dow Jones ranked 9th since yesterday 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. For additional context, note that price has gone up 8 out of the past 10 days.