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DOW JONES Technical analysis 9 January 2019

2019-01-09 08:52 am | Resource: تحليل فني | No Views : 226

Time frame Used - four hours
The Dow Jones industrial average30 is moving in a bullish direction in the near term.
The Dow Jones managed to break above 23456 to hit the 23878 level as the Dow Jones Industrial Average opened its morning session higher on the back of Trump's news yesterday about the improvement of trade negotiations between the USA and China.
In view of the technical indicators
Both the RSI and the Stochastic are indicating to the arrival of indicators in the overbought area.
Accordingly, we expect that the Dow jones will continue to rise to achieve the bullish target around the 24585 levels, and this scenario fails in case of instability above level of 23456.
 The alternative scenario is that the Dow Jones violent the 23456 level down to target levels of 23000 - 22550 levels.
Resistance: 23900 -24047 - 24585
Support: 23456 - 23000 - 22550
Direction: Up
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