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DOW JONES Technical analysis 30 November 2018

2018-11-30 07:43 am | Resource: Technical Analysis | No Views : 370

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 to break the resistance level 24677 up to the level of 25500 where it is still facing resistance and selling pressure around this level.
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 retreat to level of 25100.
  The alternative scenario is that the Dow Jones penetrates the 25500 level to a higher target level 25871 again.
Resistance: 25500-25871 - 26000
Support: 25100-24677-24277
Direction: Up
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