Dow Jones (INDU) Moves Up For the 5th Straight Day, in an Uptrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for INDU

Last Updated June 3, 2021, 03:018 GMT

Currently, Dow Jones’s price is down -13 (-0.04%) from the hour prior. This is the 2nd hour in a row Dow Jones has seen its price head down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 20 and 50 hour moving averages have been crossed, with price now being below them. 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 closed the day prior up 0.07% (25.07); this denotes the 5th straight day an upward move has occurred. Relative to other instruments in the equity indices asset class, Dow Jones ranked 10th since the day prior in terms of percentage price change. Here is a daily price chart of Dow Jones.


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. For additional context, note that price has gone up 8 out of the past 10 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!