The Dow Jones (US30) has shown a strong recovery from the recent low at 36,743, bouncing nearly 1,900 points after a steep selloff. Price is now consolidating just under the 38,800 level — a key short-term resistance zone.
🔍 Technical Breakdown:
✅ EMA crossover on the 1H suggests a shift in short-term momentum to the upside
❗️38,800–39,200 is the immediate resistance zone to clear
📉 Macro trend remains bearish unless bulls reclaim 40,000+
🔻 Below 38,000, bears may regain control and retest 37,300 → 36,743
🧭 Bias:
Neutral-Bearish in the macro view
Bullish short-term if price holds above 38,400 and breaks 38,800 cleanly
📌 Levels to Watch:
Support: 38,400 / 37,300 / 36,743
Resistance: 38,800 / 39,200 / 40,000
🧠 Summary:
This bounce looks strong, but it's still a relief rally within a bearish structure. Bulls need a confirmed breakout above 39,200 to flip the narrative. Until then, treat rallies with caution and keep an eye on momentum shifts at resistance.
🔍 Technical Breakdown:
✅ EMA crossover on the 1H suggests a shift in short-term momentum to the upside
❗️38,800–39,200 is the immediate resistance zone to clear
📉 Macro trend remains bearish unless bulls reclaim 40,000+
🔻 Below 38,000, bears may regain control and retest 37,300 → 36,743
🧭 Bias:
Neutral-Bearish in the macro view
Bullish short-term if price holds above 38,400 and breaks 38,800 cleanly
📌 Levels to Watch:
Support: 38,400 / 37,300 / 36,743
Resistance: 38,800 / 39,200 / 40,000
🧠 Summary:
This bounce looks strong, but it's still a relief rally within a bearish structure. Bulls need a confirmed breakout above 39,200 to flip the narrative. Until then, treat rallies with caution and keep an eye on momentum shifts at resistance.
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.
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.