Dow Jones Wave Analysis – 12 May, 2022

• Dow Jones broke support area
• Likely to fall to support level 31000.00

Dow Jones recently broke the support area located between the key support level 32535.00 (which has been reversing the pair from the start of 2021) and the upper 38.2% Fibonacci correction of the upward impulse from 2020.

The breakout of this support area accelerated the active impulse wave 1.

Dow Jones can be expected to fall further toward the next support level 31000.00 (target for the completion of the active impulse wave 1).