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Best Opportunities, Vision and Technical Analysis for The DOW JONES 7 February 2019

2019-02-06 11:43 pm | Resource: Technical Analysis | No Views : 271

Time frame Used - four hours
The Dow Jones industrial average30  is moving in a bullish direction in the near term.
the Purchasing power managed to control the movement of the Dow Jones to breach the level of 25182 to upside to hit the resistance level of 25500 where the Dow Jones faces resistance and selling  pressure represented in resistance the main downtrend line, which the Dow Jones is trading below it.
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 drop the 24791 level 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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