Categories: Technical analysis

Dow Jones Wave Analysis – 10 January, 2022

• Dow Jones reversed from resistance level 36800.00,

• Likely to fall to support level 35000.00

Dow Jones index recently reversed down with the daily bearish Engulfing from the resistance level 36800.00, intersecting with the upper daily Bollinger Band and the weekly up channel from September.

The downward reversal from the resistance level 36800.00 started the active short-term corrective wave (ii).

Dow Jones index can be expected to fall further toward the next key support level 35000.00 (which reversed the price in December).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: Dow Jones

Recent Posts

US indices: has the bullish trend broken?

The recent declines in US indices may have broken the bullish trend, indicated by technical…

38 mins ago

Dollar: Slowing Momentum, Same Direction

The dollar has paused its strengthening, as weaker-than-expected inflation data reduces fear of future Fed…

5 hours ago

Bitcoin Fell Back to Local Support

Bitcoin finds support near the 50-day moving average, but further declines in the stock market…

6 hours ago

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

3 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

3 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

3 days ago

This website uses cookies