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DOW JONES Technical analysis 9 August 2018

2018-08-08 11:12 pm | Resource: Technical Analysis | No Views : 114

Time frame Used - four hours
The Dow Jones industrial average is moving in a bearish direction in the near term
The purchasing power managed to control the movement of the Dow Jones to break through the 25594 level to reach the level of 25690 where it encountered resistance and selling pressure around this level to retreat to the level below 25594
In view of the technical indicators
Both the RSI and the Stochastic are indicating to decline of the indicators to  downward
Accordingly, we expect that the Dow jones  will  retreat to 25399 level
  The alternative scenario is that the Dow Jones test  level of 25740 again
Resistance: 25740 -25650 - 25750
Support: 25399 - 25201-25115
Direction: Down
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