Best Opportunities, Vision and Technical Analysis for The DOW JONES 17 April 2019
2019-04-16 11:17 pm | Resource: Technical Analysis | No Views : 547
Time frame Used - four hours
The Dow Jones industrial average is moving in a sideway direction in the near term.
The Dow jones continues to face resistance and selling pressure around the resistance level of 26949, forming a negative candlestick pattern as Wall Street indexes ended trading's today on retreating amid uncertainty about corporate results.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of the indicator in the overbought area and a negative divergence between the indices and prices.
Accordingly, we expect that the Dow jones will test 26494 level and then return to test levels of 26245 - 26112 again.
The alternative scenario is that the Dow Jones is breaching 26494 level to target 26700 level.
Resistance: 26494-26700 - 26800
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