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The Dow Jones Industrial Average is trading around 50,669 points, undergoing a technical correction after reaching a high of around 51,220. Based on the daily chart, the Dow Jones is expected to continue falling in the coming days until it reaches the 8/8 Murray level, which is around the psychological threshold of 50,000 points.
After a brief consolidation during April and part of May, the index broke through the 50,000-point resistance level to reach a new high; however, it is struggling to continue rising.
The daily chart shows overbought conditions, and it is likely that the DJ will undergo a technical correction in the coming days. If it breaks sharply below the 8/8 Murray line, below the 21 SMA, and below the uptrend channel, there could be a strong technical correction, potentially reaching the 7/8 Murray line around 48,649 and possibly even the 200 EMA around 47,700.
Given that the instrument is trading within an uptrend channel, a technical correction toward the lower band of this channel around 50,000 points could be seen as a signal to open long positions, with a target at the 2/8 Murray line around 51,562.
Given that the Eagle indicator is giving a negative signal, we will look for opportunities to open short positions if the price consolidates below the +1/8 Murray level around 50,781 points.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
