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March 09, 2022 @ 15:04 +03:00
• Dow Jones reversed from support area
• Likely to rise to resistance level 34000.00
Dow Jones index recently reversed up from the support zone set between the strong support level 32325.00 (which has been reversing the price from the start of 2021), 61.8% Fibonacci correction of the upward impulse from lasy year and the lower weekly Bollinger Band.
The upward reversal from this support area will most likly create the weekly Hammer – similar to how it made it last month.
Give the multi-year uptrend – Dow Jones can be expected to rise further toward the next resistance level 34000.00 (former strong support from the middle of July).