Dow Jones Index Snaps Losing Streak, Holding High Ahead U.S. Election
Nov, 07th 16:31
The Dow Jones Industrial Average headed for the biggest one-day rally in over four months on Monday after the Federal Bureau of Investigation on Sunday said that its fresh review of Hillary Clinton’s emails won’t lead to charges.
All 30 Dow Jones Industrial Average’s components were trading in the positive territory, with only 7 issues that added less than 1%. The blue-chip barometer looks set to trim a seven-day losing streak which was partly due to concerns over tightening race between Republican presidential nominee Donald Trump and his Democrat rival Hillary Clinton
The Dow Jones 30 index has gained 303.49 points, up 1.7% so far on the day. The biggest percentage gainers Monday were shares Microsoft Corp. and UnitedHealth with the former soaring 2.9% and the latter jumping 3.01%. Bankers such as Goldman Sachs Group Inc. which added 2.28%, J.P. Morgan Chase & Co. that ran up 2.33%, also contributed gains to the tune.
Fig: Dow Jones 30 index Technical Chart
The U.S. Dow Jones 30 index opened sharply higher on Monday, taking a big jump from the last close at 17896.00 to open at 18117.00. The index has penetrated the trading range between 18055.00 and 18255.00 again after breaking out of this range last Tuesday. As the price has turn the long-term MA50 into its new support, and the RSI has surpassed the average line, the Dow Jones 30 is expected to find its resistance at the upper boundary at 18255.00.
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