Dow Jones – Short-Term Corrective Above Major S/R Zone & Previous ATH (Weekly chart)
|Price Action Context
The very clean key resistance that had held since Jan 2018 was broken to the upside this month and currently the industrial index is trading within a short-term corrective structure above the long-term S/R zone which now should act as support on weak pullbacks.
Trending Analysis
Long-term bias is bullish, and bulls can look for potential trading opportunities on weak pullbacks into the long-term support.
Key Support & Resistance Zones
R: n/a
S: 26 550 – 26 950
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.