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Dowjones

Dow Jones Technical Analysis - Will it go below 30,000Dow Jones, the widely followed stock market index, has experienced a decline in recent days after a strong upside rally from October to December 2022. Technical analysis reveals that the index has broken an important support level and is showing a bearish trend. Additionally a Harmonic bat pattern has emerged, indicating a potential minimum target of around 29950. As a result, caution is advised for traders, with a potential for selling pressure from above. Stay informed with our in-depth analysis of Dow Jones.
TVC:DJIShort
by karuneshBajpai2
Dow Jones Industrial Index Technical Study TVC:DJI Analysis After 9th Dec 2022 Closing > Dow Theory wise - It was Making HH &HL but After Last day of closing, it seems like there will be no another HH Furthermore in Weekly TF it has made Evening Star pattern also. (Bearish) > Wave Count wise - 5th Impulse wave is also finished, so probably corrective wave ABC might be possible for next week for DJI. (Bearish) >Chart Pattern Wise - Head & Shoulder pattern is about to formed, confirmation after breakdown of neckline shown in chart. (Bearish) Bearish Divergence is also there in MACD and RSI too. Furthermore, According to chart, just below neckline there is crucial red line, breakdown of that line red line is confirmation for all the above points. Medium Term Target is end of 4th Impulse wave because of Depth off Correction Concept. What if Analysis Ignore this study, if on next trading day market opened with huge GAPUP and gone up.
TVC:DJIShort
by KRSCharts