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DOW JONES Technical analysis 7 November 2018

2018-11-06 11:30 pm | Resource: Technical Analysis | No Views : 103

Time frame Used - four hours
The Dow Jones industrial average 30  is moving in a bullish direction in the near term
DOW JONES CHART
The purchasing power managed to control the movement of the Dow Jones to break the downward trend line which is trading down above the level of 24930 to reach the level of 25730 where it faced selling pressure around this level
In view of the technical indicators
Both the RSI and the Stochastic are indicating improved performance
Accordingly, we expect that the Dow jones will target levels of  25730 - 25871
  The alternative scenario is that the Dow Jones retreat to level of  24527
Resistance: 25730-25871 - 26000
Support: 25100-24800-24527
Direction: Up
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