Dow Jones (US30) Chart Technical Outlook

Dow Jones (US30) Chart Technical Outlook trades north toward 50% Fibo level at 38,600

Dow Jones found a top this month and has been correcting lower since then. It might have completed a downward leg (W) of an extended corrective structure. There is scope for a higher leg supported by a breath in risk sentiment due to the lack of further escalations in the Middle East. It has a resistance zone between 38,600 and 38,900. I expect the corrective rally to be limited to the mentioned levels. Supports are located at 37,650 and 37,250.

We will be happy to hear your thoughts

      Leave a reply

      error: Content is protected !!
      Compare items
      • Total (0)