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The Dow Jones Industrial Average is trading around 50,232, pulling back after reaching its high near the strong resistance level of 51,836. The DJ has been under downward pressure for several consecutive sessions, so it may be entering a consolidation phase.
On the H4 chart, we can see that the Dow Jones has reached the 0/8 Murray line and the 200 EMA level, which has become strong support for this index.
As long as the price remains above the psychological level of 50,000 points, this could be seen as a buying opportunity, with targets at 50,637 and at the upper band of the downtrend channel around 50,700 points.
A sharp drop below the psychological level of 50,000 and a consolidation below the 200 EMA could continue the downward pressure and technical correction of the Dow Jones, potentially reaching the 7/8 Murray level around 48,437 in the coming days.
Given this, the Eagle indicator suggests we could buy the Dow Jones above 50,000, with targets at 50,650 and 700. A decisive break above the 21 SMA and above the downtrend channel could see it return to its highs around 51,836.
*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।
