Technical analysis

Dow Jones index Wave Analysis 27 October 2023

– Dow Jones index broke key support level 32875.00

– Likely to fall to support level 32000.00

Dow Jones index recently broke the key support level 32875.00, which has been repeatedly reversing the index from the start of May.

The breakout of the support level 32875.00 coincided with the breakout of the 38.2% Fibonacci correction of the upward trend from October of 2022.

Dow Jones index can be expected to fall further toward the next support level 32000.00, former multi-month support cluster from March.

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