• 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).
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