INDU pushes through previous session high
Dow Jones Industrial Average Index (INDU) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, INDU finished the week 2.3% higher at 25019.41 after gaining $94.52 (0.38%) today. Today's closing price of 25019.41 marks the highest close since June 15th. Closing above Thursday's high at 24939.97, the index confirms its breakout through the prior session's high having traded $103.24 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Friday's trading range was $153.15 (0.61%), that's below last trading month's daily average range of $225.46. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 24945.38 today, it is now likely to act as support going forward.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Further buying might move prices higher should the market test June's nearby high at 25402.83.
Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.