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DOW JONES Technical analysis 8 August 2018

2018-08-07 11:34 pm | Resource: Technical Analysis | No Views : 166

Time frame Used - four hours
The Dow Jones industrial average30 is moving in a sideway direction in the near term
The purchasing power managed to control the movement of the Dow Jones to break the level of 25594 higher to reach the level of 25690 where it encountered resistance and selling pressure around this level
In view of the technical indicators
Both the RSI and the Stochastic are indicating the arrival of indicators to the overbought area
Accordingly, we expect that the Dow jones  will  retreat to levels of  25594-25399
  The alternative scenario is that the Dow Jones test  level of 25740 again
Resistance: 25740 -25650 - 25750
Support: 25594-25399-25201
Direction: sideway
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