Dow Jones US30 Technical Analysis: The Dow Jones is trading in a bearish trend today, as the index recorded the highest trading price for the day so far at 42646 points and the lowest price at 42530 points, bringing the current price to 42574 points. This movement indicates the presence of selling pressure, reflecting the beginning of a downward movement that may continue if the negative momentum continues.
Dow Jones US30 Technical Analysis: Price Analysis
Prices are currently trading below the major moving averages, which indicates the preference of sellers in the market and supports the downward trend. The index remaining below these moving averages reflects a weakness in the upward momentum and reinforces the negative outlook in the short term. This situation reflects the possibility of continued selling pressure if trading continues below these averages.
Technical Analysis
Moving Averages: Moving average indicators show that the index is trading below the major moving averages, reflecting the continuation of the downward trend. The short-term averages are below the long-term averages, indicating that the market prefers the negative trend. The indicator remaining below these averages reinforces the idea of continuing selling pressure in the near term.
MACD Indicator Analysis: The MACD indicator indicates a negative trend.
as it reflects the increasing distance between the lines, indicating the continuation of the downward momentum. The negative crossover in the indicator reinforces the downward trend and shows that sellers are currently controlling the market. This reflects the decline in the upward momentum and increases the possibility of the negative trend continuing in the coming period.
Trading Expectations:
The downward trend is expected to remain dominant in the short term, especially if the index continues to trade below the moving averages. If selling pressure continues, the index may face a nearby support level at 42,500 points, and if broken, the decline may extend to 42,400 points. However, if the resistance level at 42,650 points is breached, the market may witness a temporary upward correction.
Trading strategies based on Buy/Sell levels
| US30 | In case of buying | in case of selling |
| Entry point | 42740 | 42472 |
| Target Point 1 (TP1) | First resistance: 42841 | First support: 42341 |
| Target Point 2 (TP2) | Second resistance: 42910 | Second support: 42210 |
| Stop Loss (SL) | 42472 | 42740 |
The Dow Jones is showing clear signs of a downtrend, trading below its moving averages.
and the MACD confirms the beginning of a downtrend. Selling pressure is likely to remain dominant in the short term.
with market developments to be monitored to determine whether the downtrend will continue or a sudden shift in momentum will occur.
