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DOW JONES Technical analysis 5 December 2018

2018-12-04 11:23 pm | Resource: Technical Analysis | No Views : 753

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 to drop back below level of  25500 again after the sharp decline in global markets and US stocks today to close at 24976.
In view of the technical indicators
Both the RSI and Stochastic are indicating to decline of the indicators.
Accordingly, we expect that the Dow jones will test the 24677 level.
  The alternative scenario is that the Dow Jones retest levels of 25200-25500.
Resistance: 2500-25500 - 25871
Support: 24976-24677-24413
Direction: Down
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