Dow Jones Industrial Average Index (DJI) survives another day above critical support at 25853.65
|Dow Jones Industrial Average Index (DJI) survives another day above critical support at 25853.65
The Index traded most of today's session around 25853.65 but rose towards the end of the session and closed at 26067.30 up 0.68
The Index has been fluctuating around major support and resistance at 25853.65 and 26282.50 since the beginning of July.
It's likely to continue this pattern until it either breaks out at to the upside at 26282.50 and proceed to 26560.00 or drops below 25853.65 and heads down to 25600.00.
The long term price structure indicates a similar price pattern of price swings from 26282.50 to 25200.00 and could repeat if it falls below 25853.65 and 25600.00.
The company reporting season is just around the corner, and we all know that there is not much good news coming out of those reports. Keep a close watch on this chart; it might help with your trading.
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