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Index News – Dow Jones Price Forecast & Technical Analysis

21 Nov 2022

Dow futures tick lower, FOMC minutes awaited

U.S. stock futures were trading in a tight range during Sunday’s evening deals after major benchmark averages finished the week in a mixed fashion as market participants weighed slowing CPI and PPI data against hawkish rhetoric from Federal Reserve policymakers.

Ahead in the week, market participants will be looking toward releasing the FOMC’s meeting minutes for clues on the size of the next interest rate hike in December. Meantime, Investors will be monitoring fresh manufacturing and services PMI readings, Michigan consumer sentiment, durable goods orders, and new home sales.

DOW JONES INDEX TECHNICAL ANALYSIS:

DAILY CHART:

In daily chart DOW JONES is moving above all the MA.

RSI is in buying zone stochastic is suggesting no trend.

Its immediate resistance is at 33839 and near support, level is at 33662

HOW TO TRADE DOW JONESNDEX IN THIS WEEK

DOW JONES is moving in an up channel if it breaks it immediate resistance and sustains on it then market will continue to trade up, remain bullish on it.

TRADE SUGGESTION-BUY AT 33832, TAKE PROFIT AT 34030, SL AT 33512