Dow Jones Technical Analysis: Continuing Daily Decline

Akram Adel

The Dow Jones index has been trading at fluctuating levels for several weeks but continues its daily decline since late last April. It fell to the level of 32444.00 points yesterday, the lowest level reached by the Dow Jones price in the last thirty days. The Dow Jones Industrial Average rose yesterday during its recent trading at the intraday levels, to achieve gains at the close by 0.20%, and gained 64 points by the Dow Jones Industrial Average. The Dow Jones Industrial Average settled at the end of trading at the level of 33,128.40, after a slight increase also in the previous day, by 0.26%, and reached the specified support level from the previous day at the price level of 32,500.00 points. The price of the DOW JONES index started to rise directly when it reached the support point.

26 components of the 30 index components rose in the last session's trading. The list of stocks with the highest percentage gain was the Salesforce Inc. by 6.33%, followed by Merck & Co. Inc. by 4.94% after the drug company beat estimates for the first quarter, boosted by more than $3 billion in sales of COVID-19 antivirals.

Additionally, in economic news, US GDP unexpectedly declined at an annualized rate of 1.4% in the first quarter after a 6.9% gain in the previous quarter.

Initial jobless claims fell by 5,000 to 180,000 in the week ending April 23, while the four-week moving average rose by 2,250 to 179.750, the third consecutive increase, the weekly numbers were below 200,000 since mid-February, it is an indicator of labor force measurement.

Dow Jones Industrial Average Index

Akram Adel
Akram has experience working in the Forex industry since 2008. He works as a trainer and lecturer for technical analysis, trading strategies, and foundations of risk and capital management. In addition, he has experience with topics in the financial markets on many well-known sites that specialize in this field. Akram currently writes for a number of sites by providing accurate and professional articles and daily reports.

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