Technical analysis

Dow Jones Wave Analysis 11 May, 2021

• Dow Jones reversed from resistance level 35000.00

• Likely to fall to support level 33665.00

 Dow Jones Industrial Average index recently reversed down from the resistance area lying between the pivotal resistance level 35000.00 (previous upward target) and the upper daily Bollinger Band.

The downward reversal from this resistance area created the daily Japanese candlesticks reversal pattern Shooting Star.

 Dow Jones is likely to fall toward the next support level 33665.00 (which stopped the previous corrections (a) and (iv)).

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