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Dow – Rising Channel on 4-hour chart

INDEX:DOWI   DOW Industrials
28 0 2
Resistance – 18,167, 18,250

Support – 18,000, 17, 850

Formation – Rising Channel

  • Bull grip remains intact as long as rising channel is not breached on the downside.
  • Failure on the part of bears on Friday to keep prices below Nov 3 high of 17,977 indicates prices may revisit recent high of 18,167 above which 18,250 stands exposed.
  • Bearish break from rising channel would expose 4-hr 200-MA.
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