Technical Update - Dow Jones Industrial Average / US30
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Summary: A brief technical analysis update for the Dow Jones Industrial Index....
With its close below support at 34.714 on Friday, the Dow Jones Industrial Average Index has established a bearish trend. Its RSI below 40 is also confirming the bear picture and we could see lower levels over the next week or so.
To reverse the downtrend a close above 35.510 is needed. First warning of that scenario to unfold would be for the Index to break back above the rising trend line it broke last week.
However, what is interesting is that the Future has not yet confirmed a bearish trend. The Future closed just above its support at around 34.572 on Friday and has started the week on a positive note. However, the RSI dipped below 40 indicating negative sentiment - meaning the support could easily come under pressure next few days. A break and close below this support could fuel a selloff down to strong support at around 33.285.
Quarterly Outlook Q2 2022
Quarterly Outlook Q2 2022: The End Game has arrived
Shocks from covid and the war in Ukraine have forced the global financial and political world to change, but what will the end game be?
Productivity and innovation have never been more importantAs the world economy hits physical limits and central banks tighten their belts, could equities be facing a 10-15% downside?
The great EUR recovery and the difficulty of trading itIf the terrible fog of war hopefully lifts soon, the conditions are promising for the euro to reprice significantly higher.
Tight commodity markets – turbocharged by war and sanctionsWith supply already tight, commodities keep powering on. But will it last for yet another quarter?
Between a rock and a hard placeGeopolitical concerns will add upward price pressures and fears of slower growth, while volatility will remain elevated.
The Great ErosionInflation is everywhere and central banks try to combat it. But will they get it under control in time?
Australian investing: Six considerations amid triple Rs: rising rates, record inflation and likely recessionWhile global financial markets are struggling in an uncertain world, the commodity-heavy Australian ASX index is poised to keep a positive momentum.
Cybersecurity – the rush to catch up with realityWith the invasion of Ukraine, governments and private companies are rushing to reinforce their cyber defenses.