Dow Jones Industrial Average Wave Analysis – 2 October, 2019

Dow Jones reversed from resistance area
Likely to rise to 1557.00

Dow Jones continues to fall inside the C-wave of the medium-term ABC correction (2) which started earlier from the resistance area lying between the resistance level 27300.00 (former monthly top from July) and the upper daily Bollinger Band.

The aforementioned resistance level 27300.00 stopped the extended uptrend which started at the end of 2018.

Dow Jones is expected to fall further and retest the next support level 26000.00 (likely price for the completion of the active ABC correction (2)).

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: dji

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