Categories: Technical analysis

Dow Jones Wave Analysis – 14 October, 2022

• Dow Jones reversed from support level 28620.00

• Likely to rise to resistance level 30500.00

Dow Jones index recently reversed up from the key support level 28620.00 (which stopped the previous short-term impulse wave 1), intersecting with the lower daily Bollinger Band.

The upward reversal from the support level 28620.00 stopped the earlier impulse wave 3, which belongs to the intermediate impulse wave (C) from April.

Given the bullish divergence on the daily Stochastic, Dow Jones index can be expected to rise toward the next resistance level 30500.00 (top of the previous wave 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.

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

Recent Posts

Bitcoin Fell Back to Local Support

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

1 hour 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

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

4 days ago

This website uses cookies