The US Dow Jones 30 Industrial Average has been moving sideways in recent trading, reflecting a state of instability and hesitation in the markets. The chart shows that the index is struggling to achieve new gains, with prices remaining within limited ranges without a clear direction. This sideways movement may reflect investors waiting for new catalysts or important economic news to move the markets.
Index Forecast
Moving Averages: Moving averages show signs of weakness, as the price trades near or below them, indicating a loss of upward momentum. This overlap between prices and averages enhances the possibility of continuing the sideways movement in the short term, unless we witness a strong breakout of one of the resistance or support levels.
MACD Indicator: MACD Indicator indicates weakness in the upward trend, as the indicator lines appear to converge and reflect a decline in buying momentum. This indicates the possibility of the current volatility continuing without determining a clear direction, which increases the possibility of the index remaining in a sideways range.
Trading strategies based on Buy/Sell levels
| US30 | In case of buying | in case of selling |
| Entry point | 41700 | 41570 |
| Target Point 1 (TP1) | First resistance: 41750 | First support: 41520 |
| Target Point 2 (TP2) | Second resistance: 41800 | Second support: 41470 |
| Stop Loss (SL) | 41570 | 41700 |
Based on technical data, the Dow Jones 30 is expected to continue moving sideways in the short term, especially in light of weak upward momentum and low purchasing power. If the index fails to break the nearby resistance levels at 41700, it may remain under sideways pressure with a possible test of support levels around 41300.
