Dow Jones: Indications Of The Strong Bull Market Remain
Petros Steriotis | Nov 23, 2014 12:29AM ET
DJIA hit new intraday and closing highs on Friday, following strong upmoves in European indices. It is impressive that since its October 15 lows, Dow has had only 3 or 4 down-days and about 20 up-days. This is bizarre by any statistical records, but it shows the strength of this bull market. This parabolic move is due to central banks’ induced liquidity injections and dovish comments on interest rates. The short-term (daily) trend remains up as long as the index holds above 17.600. Beyond this level, there is crucial support at 17.500 and 17.250. On the upside, Friday’s intraday high at 17.900 and then the historical 18.000 mark will be targeted.
Dow Jones Industrial, 4-hour candles:
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.