Dow Jones Wave Analysis – 22 February, 2022

• Dow Jones reversed from support area

• Likely to rise to resistance level 35000.00

Dow Jones index today reversed up from the support area located between the multi-month support level 33425.00 (which has been reversing the index from the start of 2021), lower weekly Bollinger Band and the 50% Fibonacci correction of the previous upward impulse wave from last year.

The upward reversal from this support area continues the active medium-term impulse wave (3).

Given the clear daily uptrend – Dow Jones can be expected to rise further toward the next resistance level 35000.00.