Categories: 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)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: Dow Jones

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