Will the Dow Jones revisit the 43,340 level, or are we heading for a new high?
A Gartley pattern has formed on the Dow Jones, aligning with a supply zone between 44,585.00 – 44,725.00.
If the Dow stays below this zone, we will monitor price action on the 4-hour and daily charts for confirmation of a potential decline.
Expected downward targets based on price action:
1. 44,430.00
2. 44,330.00
3. 44,095.00
4. 44,000.00
5. 43,880.00
6. 43,775.00
7. 43,340.00
On the other hand, if the 44,725.00 level is broken and closed above, the Dow Jones is expected to move toward the historical high at 45,160.00.
A close above this level would signal a new high for the Dow.
A Gartley pattern has formed on the Dow Jones, aligning with a supply zone between 44,585.00 – 44,725.00.
If the Dow stays below this zone, we will monitor price action on the 4-hour and daily charts for confirmation of a potential decline.
Expected downward targets based on price action:
1. 44,430.00
2. 44,330.00
3. 44,095.00
4. 44,000.00
5. 43,880.00
6. 43,775.00
7. 43,340.00
On the other hand, if the 44,725.00 level is broken and closed above, the Dow Jones is expected to move toward the historical high at 45,160.00.
A close above this level would signal a new high for the Dow.
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.
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.