The Dow Jones Index has officially broken its rising trendline support, signaling a possible shift in the medium-term trend. After losing this key ascending structure, price is now hovering near the psychological support zone of 40,000, which has historically acted as both resistance and support.
This level is crucial. If it holds, we could see a temporary bounce or consolidation. However, if the 40K zone fails to provide support, the index may head toward the next major support area around 38,000, aligned with the longer-term trendline support.
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This level is crucial. If it holds, we could see a temporary bounce or consolidation. However, if the 40K zone fails to provide support, the index may head toward the next major support area around 38,000, aligned with the longer-term trendline support.
Do like and follow us
THANK YOU
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.