Dow Technical Analysis, October, 1st, 2017

Technical Analysis, October, 1st, 2017


Dow is technically positive
target @ 22542 short term


Dow Jones Industrial Average shows a strong development within a rising trend channel.
A further positive development is indicated, and there is support against the floor of the trend channel.
Has risen strongly since the positive signal from a rectangle formation at the break through the resistance at 17588.
The objective at 20750 is now met, but the formation still gives a signal in the same direction.
The index has support at points 18200.
Volume tops and volume bottoms correspond badly with tops and bottoms in the price.
This weakens the rising trend and could be an early signal for a coming trend break.
The RSI curve shows a rising trend, which supports the positive trend. The index is overall assessed as technically positive for the long term.