Dow Jones Technical Outlook (DJIA)

Dow Jones has been in a steady trend up for all of this year and it may continue upwards from a technical perspective. What has happened in the last couple of days is that since the Index broke the 13000 level back in the last days of February it rebounded and headed up back again. Apart from that classic technical setup, on March 13 the Dow Jones had its best day of the year which can be seen by the long yellow candle. When this formation happens and the highest of the day is above the highest of the last 20 days a continuation pattern may be expected. After this March 13 formation, the Dow Jones has been pulsing in a small range and may be readying to continue trading up. In the short term it may happen that the index bounces back to some point in between the large green candle and bounces back up to continue the trend to resistance levels of 13500 and 14000 next.