The Dow Jones Industrial Average® was the only one of the three major US indices to mark a new all-time high at 31,223 points yesterday. But this was promptly sold off again. The index put a bearish daily reversal on the floor.This entails further charges in the preliminary exchange. The low at 30,793 points provides support and could be started in today’s trade. The 30,674 point mark would come into play here. The bulls have to defend this price level, otherwise significant losses in the direction of 30,320 points are likely. In addition, the outbreak of the technical chart caps at the start of the year would turn out to be a false signal.
For a continuation of the upward movement, prices above 31,223 points would be required on the upside. In this case, 31,500 points can be achieved.
Dow Jones Industrial Average® Index in points on the daily chart; 1 candle = 1 day (logical candle chart display)
Observation period: November 24, 2020 – January 14, 2021. Historical considerations are not reliable indicators for future developments. Source: www.guidants.com
Dow Jones Industrial Average® Index in points on the monthly chart; 1 candle = 1 month (logical candle chart display)
Observation period: 01/01/2016 – 01/14/2021. Historical considerations are not reliable indicators for future developments. Source: www.guidants.com
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The contribution Dow Jones – The new all-time high is sold first appeared on onemarkets blog (HypoVereinsbank – UniCredit Bank AG).
Author: Bastian Galuschka
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