Technical analysis

Dow Jones index Wave Analysis 1 December 2023

– Dow Jones broke multi-month resistance level 35735.00

– Likely to rise to resistance level 37000.00

Dow Jones index under the bullish pressure after the earlier breakout of the multi-month resistance level 35735.00, which stopped the previous impulse wave (A) at the end of July.

The breakout of the resistance level 35735.00 accelerated both of the active impulse waves 5 and (C).

Given the multi-month uptrend, Dow Jones index can be expected to rise further to the next resistance level 37000.00 (target price for the completion of the active waves 5 and (C)).

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