02, June 2016

DowJones (a 4-hour chart)

DowJones (a 4-hour chart)

General overview

The US Bonds Market declined on Wednesday. Morgan Stanley worsened recommendations for the shares of Nike Inc (sporting goods manufacturer). The shares reacted with the decrease to that news.

Current situation

The Dow Jones index rebounded from the local maximum at the level of 17900. The first, the index fell to 17650, then the Dow Jones turned upwards and regained some of the losses. The index recovered to 17760. The resistance is at the level of 17900, the support is at 17740.

MACD is in a negative area. MACD decreased. RSI reached the oversold level of 30 and bounced off it.

Trading recommendations

The index Dow Jones can grow to the resistance level of 17900. After breaking 17900 the buyers may go to 18000.