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Dow Jones - 4 Hourly

By Minipip
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The Dow is currently trading at 33748. Will the index snap out of its 5-day losing streak?

From a technical aspect, the Dow Jones index is currently trading at 33748. Applying the Bollinger Bands to the chart, the index seems like it is trying to break out of the 5-day losing streak. Resistance sits at 33777 (middle moving average of the Bollingers) then at 33608 then at 33968. A break above 33968 could see the Dow head towards the upper Bollinger Band (34245). If resistance is overpowering, on the downside support sits at 33655 then at 33608 then at 33577. A break below these points may see the index continue its losing streak towards the 33300-33400 level (correspondent with the lower Bollinger Band). Looking at the indicators, MACD has just turned positive and RSI is neutral as it reads 47.

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