Dow Jones Wave Analysis – 28 November, 2022

• Dow Jones reversed from resistance level 34145.00

• Likely to fall to support level 33500.00

Dow Jones index just reversed down from the long-term resistance level 34145.00 (previous monthly high from May and August), strengthened by the nearby upper daily Bollinger Band.

The downward reversal from the resistance level 34145.stopped the previous short-term impulse wave 3, which belongs to the intermediate impulse wave (C) from the start of November.

Given the strength of the resistance level 34145.00, Dow Jones index can be expected to fall further toward the next support level 33500.00.