Technical analysis

Dow Jones index Wave Analysis 2 August 2023

– Dow Jones index reversed from major resistance level 35550.00

– Likely to fall to support at 34675.00

Dow Jones index recently reversed down strongly from the major resistance level 35550.00, which reversed the price multiple times from the start of 2022.

The resistance level 35550.00 was strengthened by the upper daily and weekly Bollinger Bands.

Given the strength of the resistance level 35550.00 and the overbought daily Stochastic increase the probability the index will fall further to the next support at 34675.00.

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