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Best Opportunities, Vision and Technical Analysis for The DOW JONES 6 February 2019

2019-02-05 11:49 pm | Resource: Technical Analysis | No Views : 205

Time frame Used - four hours
The Dow Jones industrial average30  is moving in a bullish direction in the near term.
DOW JONES CHART
The purchasing power managed to control the movement of the Dow Jones from breaking the level of 25182 higher after the release of data improving business results for US companies heading towards the resistance level of 25500.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Accordingly, we expect that the Dow Jones will test the 25500 level where we expect that the Dow jones will face selling pressure that could push it back to level of  24791 and this scenario will fail in case of stability above  the 25500 level.
 The alternative scenario is that the Dow Jones breached 25500 level higher to target the level of 26083.
Resistance: 25500 -26083 - 26281
Support: 24791 - 24257 - 24048
Direction: Up
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