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DOW JONES Technical analysis 12 April 2018

2018-04-12 12:17 am | Resource: Technical Analysis | No Views : 165

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 the Stochastic are indicating signs of recovery
Accordingly, we expect that  the Dow jones  will  test level of  24434 - 24630 again
 The alternative scenario is the further decline of the Dow Jones to level of  23700
Resistance: 24434 – 24630 - 24939
Support: 24021-23700-23333
Direction: sideway
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