Dow Jones US30 Technical Analysis: The Dow Jones Index is trading in a downtrend today, recording its highest price so far at 43,477 points, and its lowest price at 43,260 points. At the moment, the index is trading around the 43,373 point level. Technical analysis shows that prices are trading below the moving averages, which reinforces the downtrend and indicates the possibility of continued selling pressure in the market.
Dow Jones US30 Technical Analysis Technical Analysis:
Moving Averages Analysis:
The Dow Jones Index is currently trading below the major moving averages, which indicates weak upward momentum and the dominance of the downtrend. This technical situation reinforces the idea of continued selling pressure in the short and medium term, as the market is still unable to break through these important technical levels to the upside.
MACD Indicator:
The MACD indicator indicates a negative trend, as the MACD line is trading below the signal line. This reflects the strength of selling pressure in the market and reinforces the downtrend. However, the indicator is showing some signs of weakness in the downward momentum, as the gap between the MACD line and the signal line is not as wide as it was previously, which could indicate some stability in the market or a potential upward correction in the short term.
Trading Outlook:
The downtrend is expected to continue as long as the indicator is trading below the major moving averages. If the selling pressure continues, the nearby support levels at 43260 will be crucial. If this support is broken, the decline could extend towards lower levels such as 43000 points or 42800 points. In case of an upward correction, a strong resistance could appear at 43477 points, as this level will act as a barrier for further gains.
Trading strategies based on Buy/Sell levels
| US30 | In case of buying | in case of selling |
| Entry point | 43570 | 43260 |
| Target Point 1 (TP1) | First resistance: 43705 | First support: 43064 |
| Target Point 2 (TP2) | Second resistance: 43750 | Second support: 43000 |
| Stop Loss (SL) | 43260 | 43570 |
Technical analysis indicates that the overall trend for the Dow Jones today is bearish, with strong support from the price trading below the moving averages and the MACD indicator reflecting the negative momentum in the market. Despite some signs of weakness in the downtrend, the market remains under selling pressure, with expectations of extending the downside movement as long as the index remains below key resistance levels. Support at 43,260 points should be monitored as an important level for making trading decisions.
