Facebook Twitter Instagram
    Wednesday, May 25
    Facebook Twitter LinkedIn Telegram YouTube
    SimpleFX Blog
    Banner
    • Home
    • News
    • Tutorials
    • Updates
    • Opinion
    • Trading Academy
    • Trading Schedule
    SimpleFX Blog
    Home»Analysis»Dow Jones at Crossroads as US Equity Markets Enter Critical Phase
    Analysis

    Dow Jones at Crossroads as US Equity Markets Enter Critical Phase

    Zach WrightBy Zach WrightJanuary 14, 2022No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    The S&P 500 futures rose during early morning trading on Friday, ahead of the earnings season for big banks.

    The Dow Jones Industrial Average-based contracts advanced 84 points, or 0.23 percent, while S&P 500 futures increased by 0.13 percent and Nasdaq 100 futures remained unchanged.

    The current structure of the DJI30 index suggests the formation of a global uptrend that moves inside a large green channel. In the current chart, we see the price movement from November to today.

    SimpleFX DJI30 Chart Analysis: January 14, 2022.

    From the second half of November to the beginning of December, we see the market fall from the upper green line to the lower green line. At the beginning of December, the market reached the lower green wall, but then pushed off from it and rapidly began to move up. At the beginning of this year, the price touched the upper green line, after which it began to move in the opposite direction. The last section of the chart describes the descending channel of yellow color.

    In the last section of the chart, we see how the price bounced sharply from the lower yellow wall and reached the upper yellow wall in a short period of time. There is a possibility that the upper yellow line will be broken by bulls near the resistance level of 36370. If this level is broken, then the price may rise a little more to the resistance level of 37110, which is located on the green line.

    However, the last pullback from the yellow wall could give impetus to a downward movement. In this case, bears can send the market to the lower yellow wall and the support level of 35110. And in case of a breakdown of this level – even lower, to the support level of 34356 and the lower green line.

    featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleSwiss Franc Climbs After Fed’s Comments
    Next Article Trading Schedule Changes in the USA on January 17
    Zach Wright

    Related Posts

    Why Men in Their 30s Dominate Crypto, and How Can We Change It

    May 25, 2022

    Is it the Time to Sell-High Pound Sterling?

    May 25, 2022

    Can Euro Continue Its Run Against the Dollar?

    May 24, 2022

    Leave A Reply Cancel Reply

    Copyright © 2019. SimpleFX
    • SimpleFX WebTrader
    • Unilink Affiliate Tracker

    Type above and press Enter to search. Press Esc to cancel.

    We and our partners use cookies for analytics purposes and to serve personalized ads. You can view our privacy policy here and our cookies policy here
    Accept.
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT