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Dow Jones: ⬆️ Buy
– Dow Jones reversed from support zone
– Likely to rise to resistance level 47000.00
Dow Jones index recently reversed up from the support zone between the key support level 45470.00 (former resistance from August), lower daily Bollinger Band and the 38.2% Fibonacci correction of the upward impulse from August.
The upward reversal from this support zone created the daily reversal pattern Hammer, which stopped earlier correction ii.
Given the strong daily uptrend, Dow Jones index can be expected to rise further to the next resistance level 47000.00 (which stopped earlier impulse wave i).
Source: https://fxpro.news
