Start Trading Now Get Started
Affiliate Disclosure
Affiliate Disclosure DailyForex.com adheres to strict guidelines to preserve editorial integrity to help you make decisions with confidence. Some of the reviews and content we feature on this site are supported by affiliate partnerships from which this website may receive money. This may impact how, where and which companies / services we review and write about. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker's track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information.

Dow Jones Technical Analysis: Removing Negative Pressure

By Akram Adel
Akram has experience working in the Forex industry since 2008. He works as a trainer and lecturer for technical analysis, trading strategies, and foundations of risk and capital management. In addition, he has experience with topics in the financial markets on many well-known sites that specialize in this field. Akram currently writes for a number of sites by providing accurate and professional articles and daily reports.

Our expectations will turn positive in the short term, as we expect more rise for the index during its upcoming trading.

The Dow Jones Industrial Average continued to rise in its recent trading at the intraday levels, to achieve gains in trading on Wednesday and for the fourth session, by 0.63%, to add to it about 224.09 new points, by 0.78%.

ADP employment report showed an unexpectedly sharp drop in private sector payrolls for January, as the omicron mutant of coronavirus delayed hiring plans. That reading comes ahead of the closely watched official jobs report from the US Department of Labor on Friday for the month of January. However, the ADP's readings do not always align with the NFP report issued by the Department of Labor.

A strong jobs report showing strong job and wage growth may reinforce expectations of monetary tightening by the Federal Reserve, and vice versa.

Technically, the index continues to rise, supported by the influx of positive signals in the relative strength indicators. It is under the control of the main bullish trend in the medium term along a slope line, as shown in the attached chart for a period of time (daily). It succeeded in its recent rise to get rid of the negative pressure of the simple moving average for a period of 50 days.

Therefore, our expectations will turn positive in the short term, as we expect more rise for the index during its upcoming trading, if it stabilizes above the main support level 35,000, to target the first resistance levels at its next key level 36,000.

Dow Jones Industrial Average Index

Akram Adel
About Akram Adel
Akram has experience working in the Forex industry since 2008. He works as a trainer and lecturer for technical analysis, trading strategies, and foundations of risk and capital management. In addition, he has experience with topics in the financial markets on many well-known sites that specialize in this field. Akram currently writes for a number of sites by providing accurate and professional articles and daily reports.
 

Most Visited Forex Broker Reviews