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Best Opportunities, Vision and Technical Analysis for The DOW JONES 11 March 2019

2019-03-10 11:46 pm | Resource: Technical Analysis | No Views : 134

Time frame Used - four hours
The Dow Jones industrial average30 is moving in a bearish direction in the near term.
The bears managed to control the movement of the Dow Jones index to drop the index more than 200 points after released report of the employment  to hit the support level of 25261 forming a positive candlesticks pattern.
In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the oversold area.
Accordingly, we expect that the Dow jones will test levels of  25636-25854 in a corrective up move.
The alternative scenario is that the Dow Jones is breaking the 25261 level down and to drop to the 25,000 levels.
Resistance: 25261-25000 - 24800
Support: 25636-25854-26171
Direction: Down
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