Categories: Technical analysis

Dow Jones index Wave Analysis 29 August 2024

  • Dow Jones index broke resistance level 41280.00
  • Likely to rise to resistance level 42000.00

Dow Jones index continues to rise after the earlier breakup of the pivotal resistance level 41280.00 (which stopped the previous waves I, b and iii, as can be seen below).

The breakout of the resistance level 41280.00 continues the active impulse wave iii of the higher impulse waves 3 and (C).

Given the predominant daily uptrend, Dow Jones index can then be expected to rise to the next resistance level 42000.00 (intersecting with the daily up channel from April).

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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Tags: Dow Jones

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