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Dow Jones Industrial Average Lower Towards 200-Day

Dow Jones Industrial Average Lower Towards 200-Day

Paul Robinson, Strategist

The Dow Jones Industrial Average continues to look poised for more selling as the near-term trend remains pointed lower. With that in mind, the trading bias looks to lean favorably for shorts. This could be the case until the important 200-day moving average is tested, a threshold that is also in confluence with prior points of resistance and support. Overall, there is about 800-900 points to go before the 33206 level is hit.

DJI Daily Chart

Dow Jones daily chart

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---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.