Technical Analysis for Dow Jones 6-7-2015

Technical Analysis for Dow Jones

Dow Jones moved Last Friday in the average movement of 74 pips, its highest level at 17670 and the lowest Level at 17592 and closed at 17619 to Lose 25 pips, during Friday’s trading according to negative economic data from USA on Thursday and bank holiday on Friday.

Dow opened today's trading at 17397 to make a Gap with 220 Pips after Greeks rejected the terms of the creditors through a yesterday’s referendum.

Dow moves in a series of up impulse waves in a parallel price channel

It is expected that the Dow is heading targeting 17650 to make a little of correction as the target on time frame of four hours and till now we see the Bulls control on market direction

And the Relative Strength Indicator "RSI" show us accumulation operations at the market

Today at 14:00 we are looking for ISM Non-Manufacturing PMI from USA

Today we could see sharp trading because of the economic data from USA

Support levels: 17584 and 17549 and 17506

Resistance levels: 17662 and 17705 and 17740

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