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DOW JONES Technical analysis 11 April 2018

2018-04-11 12:47 am | Resource: Technical Analysis | No Views : 217

Time frame Used - four hours
The Dow Jones industrial average30 is moving in a sideway in the near-term
The Purchasing power managed to control the movement of the Dow Jones to break the Dow Jones level of  24021 to upside  to reach the Dow Jones index to levels of  24630 - 24434 as the Dow Jones is still facing resistance and selling pressure around this level forming  a negative candlesticks  pattern
In view of the technical indicators
Both the RSI and Stochastic are indicating  to weakness of the  indicators
Accordingly, we expect that  the Dow jones  will  fall to level of  24021 again
 The alternative scenario is the further decline of the Dow Jones to level of  23700
Resistance: 24434 - 24343 - 24630
Support: 24021-23700-23333
Direction: sideway
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