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Dow Jones index Wave Analysis

  • Dow Jones index broke key support level 34000.00
  • Likely to fall to support level 33500.00

Dow Jones index recently broke key support level 34000.00 (low of the previous wave a) intersecting with the 38.2% Fibonacci correction of the previous upward impulse from March.

The breakout of the support level 34000.00 was preceded by the breakout of the daily up channel from March – which accelerated the active wave ii.

Dow Jones index can be expected to fall further toward the next support level 33500.00, target for the completion of the active wave ii.

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