Technical analysis

Dow Jones Wave Analysis – 6 July 2023

– Dow Jones reversed from powerful resistance level 34370.00

– Likely to fall to support level 33655.00

Dow Jones index recently reversed down from the powerful resistance level 34370.00, which has been repeatedly reversing the index from last November

The resistance level 34370.00 was further strengthened by the upper daily Bollinger Band.

Given the strength of the resistance level 34370.00, Dow Jones index can be expected to fall further toward the next support level 33655.00 (low of the previous minor correction (ii)).

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