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Dow Jones - 4 Hourly

Chart & Data from IG

By Minipip
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The Dow Jones is trying to consolidate after the Nonfarm Payrolls figures. But the resistance is tough, indicators are currently mixed.

From a technical overview, the Dow Jones index is currently trading at around 33,347. ADP Nonfarm payrolls were reported lower than expected, which saw a slight increase but the resistance is too overpowering at the moment. We can see that overnight the index broke out of the ascending trendline on the 4-hourly timeframe, and the support below is now sitting at 33,274. A break and close below this support may see the Dow slide retrace further towards the range of 32,900-33,000. If the index manages to consolidate at the open, resistance now sits at 33,452. A break above this level could see it back at the 33,600 level. Looking at the indicators they are mixed, MACD has turned negative but RSI remains positive as it reads 57.

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