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DOW JONES Technical analysis 9 October 2018

2018-10-08 11:13 pm | Resource: Technical Analysis | No Views : 111

Time frame Used - four hours
The Dow Jones industrial average 30  is moving in a sideway direction in the near term
DOW JONES CHART
The sell-off managed to control the movement of the Dow Jones to fall back down again but this time violated the uptrend line down to reach to the support level of  26326 trying to consolidate above this level
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  26775 again
  The alternative scenario is that the Dow Jones break the 26775 level higher to test the 26952 - 27000 level
Resistance: 26466 -26775 - 26952
Support: 26326 - 26154 - 25955
Direction: sideway
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