DOW JONES 30 (DJIA) – Week 7 – Will we fill the GAP?
The Dow Jones Industrial Average hit a new high in Tuesday’s session, with Salesforce (CRM) stock being the top gainer in the Dow Jones today, up 3%.
Besides Salesforce.com (CRM), JPMorgan (JPM) and Goldman Sachs (GS) also outperformed in the blue-chip index. Another important factor was the big jump in the 10-year Treasury yield, which rose 9 basis points to 1.3%.
From a technical perspective, the price is moving up and down inside the ascending channel for a while now, with a chance of an increase towards the 32000.0 psychological level which coincides with a possible resistance area generated by the channel.
We expect the price to crawl upwards in the short-term, but the bigger picture points to a price depreciation that can fill the gap formed at the beginning of November.
We recommend patience and discipline. Don’t jump in any trade without a proper setup.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Besides Salesforce.com (CRM), JPMorgan (JPM) and Goldman Sachs (GS) also outperformed in the blue-chip index. Another important factor was the big jump in the 10-year Treasury yield, which rose 9 basis points to 1.3%.
From a technical perspective, the price is moving up and down inside the ascending channel for a while now, with a chance of an increase towards the 32000.0 psychological level which coincides with a possible resistance area generated by the channel.
We expect the price to crawl upwards in the short-term, but the bigger picture points to a price depreciation that can fill the gap formed at the beginning of November.
We recommend patience and discipline. Don’t jump in any trade without a proper setup.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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