Dow Jones Continues To Move Higher

The futures made one other file excessive yesterday and merchants are able to push them even larger at this time. It looks like the unload that we skilled a number of days again was a wholesome pull again. On Jan. 4 the Dow Jones futures kissed the 50-day SMA on the each day timeframe, and ever since, the value has been buying and selling larger. This confirms that there’s nonetheless sufficient consumers on the market.

Along with this, the Dow Jones industrial common can be buying and selling above the 50, 100 and 200-day SMA on the each day timeframe and this additional confirms the bullish development. Having stated this, the Relative energy index, has as soon as once more reached it overbought degree, and because of this any bullish commerce must be taken with some warning as the value may reverse its route.

The close to time period help zones are proven by the inexperienced horizontal traces on the chart.

DJI - 30 Daily Chart
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