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Dow Jones Index (US30): Bullish Reversal 📈

486
snapshot

Dow Jones reached an important wide horizontal demand zone on a daily time frame one week ago.
The price started to consolidate on that and formed a double bottom pattern with a higher low.
Today, after the NFP release, the market bounced and set a new local higher high, violating the neckline of the pattern - the last lower high.

It looks like a classic bullish reversal pattern.
The index will most likely keep growing to 33540

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Double Top or BottomdowjonesS&P 500 E-Mini FuturesindexesnasdaqS&P 500 (SPX500)Supply and DemandSupport and ResistancetradingUS30

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Double Top or BottomdowjonesS&P 500 E-Mini FuturesindexesnasdaqS&P 500 (SPX500)Supply and DemandSupport and ResistancetradingUS30
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Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.