INDU pushes through previous session high


Dow Jones Industrial Average Index (INDU) Technical Analysis Report for Jul 13, 2018 [< 1 min read]
Highlights
INDU pushes through key resistance level
INDU closes higher for the 2nd day in a row
INDU ends the day on a bullish note closing near the high of the day
INDU pushes through previous session high
INDU rises to highest close since June 15th
TQ Sentiment
Report Sentiment: 60% Bullish
Technical Forecast:
Overview

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.

Daily chart for INDU
Volatility

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.

Support/Resistance

Breaking through the key resistance level at 24945.38 today, it is now likely to act as support going forward.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Further buying might move prices higher should the market test June's nearby high at 25402.83.

Conclusion

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.

Market Conditions for Dow Jones Industrial Average Index
ConditionForecastDirectionWinAvgWorstBestEvents
Close near high of period TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
More market conditions identified for TQ Pro members...
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