Dow Jones Wave Analysis – 21 July, 2022

• Dow Jones reversed from resistance area

• Likely to fall to support level 31000.00

Dow Jones index recently reversed down from the resistance area lying between the key resistance level 31845.00 (top of wave A from June), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from May.

The downward reversal from this resistance area continues the clear downtrend that can be seen on the daily Dow Jones charts.

Dow Jones can be expected to fall further toward the next support level 31000.00 – from where the active upward impulse wave C is likely to resume.