Dow Jones US30 Chart Technical Outlook will find significant resistance at the 41,000 area
The Dow Jones (US30) Index pared losses on Monday with the main Wall Street indexes bouncing up after last week’s sell-off. The index has reached an important resistance area, at 41,000 which capped rallies several times last week, and closes the path towards the 41,600 long-term high.
A pullback from current levels would suggest the possibility of bearish Head & Shoulders, with its neckline at last week´s low of 40,180. Below here the 61.8% Fibonacci retracement is at 39,605, the pattern’s measured target is August’s low, at 38,400.
