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Dow Jones Kicks Off the New Week With 0.44% Drop -

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    • Dow Jones Kicks Off the New Week With 0.44% Drop
Dec, 01st 03:45

US indexes closed in the red, with the Dow Jones Industrial Average shedding 78 points or 0.44% to end the day at 17,719.92.

All of the US indexes closed with limited losses, with investors waiting for some clearer clues on upcoming economic policy decisions this December before taking some relevant decisions. Some month-end fixing weighed on the index that anyway maintains a mild positive tone in its daily chart, given that it continues to develop well above its moving averages, whilst the Momentum indicator heads north well above its 100 level, and the RSI indicator holds around 54.

In shorter term, the 4 hours chart presents a more bearish tone, as the index has extended below its 20 SMA, while the technical indicators hold ground in negative territory.

The main support comes at 17,657, November 24th daily low, and it will take a break below it to confirm  additional declines during the upcoming days, towards the 17,420 region, the next strong static support area.

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