Dow Jones Industrial Averages Long term technical analysis April 2019

DJIA long-term technical analysis

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This month is the month where investors and traders expect there is an agreement to settle the trade war between the U.S and China. But, it seems we will need to wait until both parties will reach an agreement as the trade talk will extend into May. China and U.S expected to hold two more round of trade talk before finalizing any deals. Positivism might be building but analysts think the agreement will not solve the main issue between U.S and China.

Q1 earnings result are coming out and it should influence the overall market. Traders could expect the index to close above 26,000 this month and might continue to test all-time high depends on the earnings result.

Monthly chart

Dow Jones Industrial Averages Long term technical analysis April 2019

On the monthly chart, we could see the index fell in the previous month but recovered its ground to close the month near its opening level. It is a neutral-bullish situation and this month there is follow through by the bull which pushes the index higher above the previous month high.

We might see the index continue upward and test all time high.

Weekly chart

Dow Jones Industrial Averages Long term technical analysis April 2019

The overall trend of DJIA on the weekly chart also bullish and continue higher after the close above 26,000. The index range span between 26,000 and the all-time high. Will a new all-time high printed in the current upward attempt?

Daily chart

Dow Jones Industrial Averages Long term technical analysis April 2019

The index has surpassed 26,000 and continue its upward movement. It is traded at the middle of 26,000 – 27,000 now and might add more gain. No change to the bullish trend yet and traders better stick to the long positions in equity.

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