Technical analysis

Dow Jones Wave Analysis – 24 June, 2021

• Dow Jones reversed from support level 33295

• Likely to rise to resistance level 34333

Dow Jones recently reversed up with the daily Bullish Engulfing from the key support level 33295 (previous monthly low from May), intersecting with the lower daily Bollinger Band and the 100-day moving average.

The upward reversal from the support level 33295 started the active intermediate impulse wave (5).

Given the clear uptrend – Dow Jones can be expected to rise further toward the next resistance level 34333 (former support from the start of May).

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