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Technical analysis of Dow Jones Industrial Average for May 18, 2018


After breakout from the Triangle Pattern on the daily chart, Dow Jones Industrial Average is making a higher high and lower low. We know this pattern seems to give a clue for the index close. It is in a correction phase and it is about get back to the bullish bias as long as no breakout has happened. Now, the index is bellow the 23,344 level. There is a high possibility for the index to test the previous resistance at 25,448 as the first target and 25,800 as the second target.


The material has been provided by InstaForex Company -