us30 (dow jones) right now forming reciprocal ab=cd with butterfly formation
below b point 32529 more fall can seen up to 30980-30780
on 30980-90780 2 pattern will active reciprocal ab=cd and butterfly for bull run till 34000-35000
Dow Jones have managed to be range bound
amidst all the negative news and sentiments...
Still investors have managed to keep it afloat
without any major fall..
Now Dow is approaching Trendline Support...
Crucial reversal zone....
Is a Pull Back and bounce on the anvil ???
Dow Jones trading in a range, a breakout will determine further market movement.
Whereas Indian markets have broken the #trend today by making a new higher low.
Having a bullish bias for the upcoming week.
Amid fear of Inflation and rate hikes Dow has actually performed very well ignoring last to last hawkish commentary of FED.
Well we focus on price only and my algorithm has churned out some important levels for the month of Dec 2022.
I have marked those levels on the chart for ur perusal..
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Dow Jones rallied nicely in last 3-4 trading sessions..
Dow Jones waiting for direction as per Fed rate hike news...
In any adverse news identified support levels.
32168 is a very good supp. below that we can see more red on Dow.
Dow Jones Industrial Average Index View Spot Cmp - 29941
Dow Looking Week On The Chart Follow Lower Low Pattern In The Chart
Above 30572 Go Long For Target 32000 ++
Below 30428 Go Short For Target 28000 ++
We have seen confirmation of the Head & Shoulders pattern in Dow and it couldn't go above the right shoulder. We may see Dow coming near to 31000 in coming sessions.
To motivate me, Please like the idea If you agree with the analysis.
InvestPro India Team
On a verge of breakout from falling wedge pattern. If happens it bullish sign and for more confirmation need to cross swing high of 35700.
All Important Supports and Resistances are drawn in chart. All levels are on closing basis.
Please have a look and revert back if you need some more study on it.
Disclaimer : Consult Your Financial Advisor Before Taking Any...