Dow Jones Futures Technical Analysis and Forecast
Dow Jones futures technical analysis shows selling zone
- Recent Performance: The Dow Jones Futures (YM1!) has experienced a significant sell-off, moving out of the upper trendline boundary of the long-term channel.
- Past Analysis Point: A previous recommendation was made near the red arrow, indicating an expected rise towards the upper channel line.
- Current Position: Despite my expectations (marked by the blue "X"), the price reversed before reaching the anticipated resistance area, showing even a gerate bearish force.
- Support and Resistance: Key support is identified around 38,000, with potential resistance at 40,000 if the price attempts a recovery.
- Market Outlook: Traders should watch for consolidation within the channel or further breakdown below current levels, indicating more downside potential.
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