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Dow Jones Daily Technical Analysis | 12 February 2018

2018-02-12 12:11 am | Resource: Technical Analysis | No Views : 184

 
Time frame Used - four hours
The Dow Jones industrial average30  is moving in a bearish direction in the near term
DOW JONES CHART
The Dow Jones  ended the day higher slightly to offset some of its losses as the index faced resistance and selling pressure around the 24931 level to drop to the support level 23359, trying to
consolidate  above this level, forming a positive candlestick pattern
And looking at the technical indicators
Both the RSI and the Stochastic are indicating signs of recovery
Accordingly, we expect the Dow to test  24931 and 25289 levels again
The alternative scenario is further downside to 23118 level
Resistance: 24561 -24931 - 25289
Support: 23834 - 23118 - 22667
Direction: Down

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