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Downjonesindustrialaverage

Get Ready for the partyUSA market was under pressure due to so many reasons as we know but technically now the chart is looking bullish to me. Once we see a closing above 34440 its very likely it will retest the strong resistance area that is at 34900 zone. 34000 was resistance we saw rejections on 17th october 2023, now with this current really we can finally see a break through and is has retested the zone successfully. I think we are going north from here fasten your seat belts for this journey. Hit like & follow guys ;)
TVC:DJILong
by stalkstock
Dow Jones Technical Analysis ahead of FOMCThe US headline CPI data released last week surprised the market with a smaller drop than expected. As such, a higher chance is being given to a 75-basis-points rate hike in the upcoming September FOMC meeting. The US stock market reacted with a major sell-off last week, signalling that the summer rally has overstayed its welcome. The Dow Jones plunged by 1,300 points or 4.2% last week. The S&P500 dropped by 5.2%, while the NASDAQ declined by 6.0%. The interest rate decision from the Fed due this Wednesday (UTC -4) will be a significant event for US markets this week. The market is currently pricing in an 85% chance of a 75bps rate hike and a 15% chance of a 100bps hike. Looking at the current price action for the Dow Jones in combination with the Schaff Trend Cycle indicator, indicates that the downside's strength still present and may continue to stick around. The Schaff Trend Cycle is currently sitting far below the 25 level at 7.6. However, this indicator’s current condition may also be a sign that the Dow Jones may be oversold. In such a case, we might expect the index to perform a reversal and retest the 31,200 level, before continuing the downtrend. Traders looking for a counter-trend trade might want to watch and wait for the Schaff Trend Cycle to close above the 25 levels. With the upcoming FOMC meeting and the expectation of a 75bps or greater rate hike, we may expect a reaction to the downside during the day and a hitting of the 30,000-support area. Breaking below the 30,000-demand zone will open up the 29,500 to 29,000 targets.
BLACKBULL:US30
by BlackBull_Markets