Technical analysis

Dow Jones Wave Analysis – 05 August, 2021

• Dow Jones reversed from pivotal support level 34750

• Likely to rise to resistance level 35160,00

Dow Jones index recently reversed up from pivotal support level 34750 (which stopped the previous minor correction (a) in the middle of July).

The upward reversal from this support zone stopped the previous short-term ABC correction (ii).

Given the clear daily uptrend – Dow Jones can be expected to rise further toward the next resistance level 35160,00 (top of the previous waves (3), (i) and (b)).

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