Dow Jones Wave Analysis – 4 May, 2022

• Dow Jones reversed from support level 32460.00
• Likely to rise to resistance level 35000.00

Dow Jones recently reversed up from the key support level 32460.00 (which has been reversing the index from the start of this year), standing near the lower weekly Bollinger Band.

The support area near the support level 32460.00 was further strengthened by the 38.2% Fibonacci correction of the weekly upward impulse from 2020.

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