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DOW JONES Technical analysis 13 December 2018

2018-12-13 12:43 am | Resource: Technical Analysis | No Views : 270

Time frame Used - four hours
The Dow Jones industrial average30 is moving in a bearish direction in the near term.
The Dow jones continues to face resistance and selling pressure around level of  24820, forming a negative candlestick pattern, to retreat the Dow Jones below level of  24677.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to decline of the indicators.
Accordingly, we expect that the Dow jones drop to levels of 24200-24128.
  The alternative scenario is that the Dow Jones broke level of 24128 down to the 23527 level.
Resistance: 24820 - 24677 - 25000
Support: 24200 - 24128 – 23527
Direction: Down
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