US30 Chart Technical Outlook

Dow Jones US30 Chart Technical Outlook rally toward 41,200 can find sellers

Dow Jones has been correcting lower this month. Gloomy data on the US jobs market supported the risk-off sentiment. Prices found support at the 50% Fibo level of the preceding rally. They bounced higher, printing wave X of a three-wave downside corrective structure. There is room for further gains toward 41,200. I expect the rally to find sellers to print wave Y to the downside. Support is located at 40,280.

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