Dow Jones Wave Analysis 02 November, 2020
November 02, 2020 @ 18:30 +03:00
• Dow Jones reversed from support zone
• Likely to rise to 28000.00
Dow Jones Industrial index reversed earlier with the daily Hammer from the support zone lying between the support level 26000.00 (which also reversed the price in July), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from May.
This support zone was further strengthened by the nearby support level 26480.00 (former monthly low from September).
Given the long-term uptrend – Dow Jones Industrial is likely to rise further toward the next resistance level 28000.00 (former support from October).