Dow Jones US30 Chart Technical Outlook Expanding Wedge offers a negative bias
Mixed and volatile trading has resulted in an Expanding Wedge formation. This pattern is negative for sentiment. On a break of the trend of higher lows at 38,251, the measured move target is 37,244.
The projected AB leg of a Crab formation is located at 38,324.
The projected AB leg of a Butterfly formation is located at 38,236.
Resistance: 38,816 (bespoke), 39,141 (swing high), 40,000 (Big Figure)
Support: 38,324 (AB Crab), 38,251 (higher lows), 38,236 (AB Butterly)
