Dow Jones technical analysis - a junction of a retest.

Key signal in Dow Jones points to bearish trend - watch out for downside target of 38,600 if this retest holds. Watch the 4 hourly chart & get a hint to where the entire stock market might be headed. Important junction at play.

Sunday, 07/04/2024 | 03:05 GMT

Dow jones (DJIA) technical analysis: bearish trend watch

Dow Jones technical analysis - a junction of a retest.

Investors and traders, a key technical signal in the Dow Jones Industrial Average (DJIA) points to a potential bearish trend. Let's dive in:

Broken trendline: the DJIA has broken below a significant trendline support, indicating a shift toward selling pressure and a possible downward trend.

Looking ahead: Bullish vs bearish price targets for Dow Jones

Bearish target: if the price fails to cross back above the broken trendline, I'm looking at a potential downside target of 38,600.
Bullish target: conversely, if the DJIA manages to cross back above the trendline, a bullish move toward 39,300 could be in play.

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Keep a close eye on the DJIA! Resources like ForexLive https://www.forexlive.com/ offer up-to-date news, analysis, and expert insights to help you navigate the market. Trade the Dow Jones at your risk only.