At yesterday’s close at around 34112 points, the Dow Jones Industrial Average Index closed with significant gains. So far today, the index moved even further up with 0.22%. In the current uptrend, the price marked a high at 34244 points today. With the movement, the Dow Jones on 10.11. broke the longer-term downtrend, but only consolidated thereafter. However, with yesterday’s rise, further strength has now been confirmed. What might happen next this week?
The chart situation in the daily chart did not change much during this week. In the area around 33425 points, a short-term relevant horizontal support has been established. The next important resistance is found in the area of 34301 points. If the price continues to stay above the support and respects it, this can be interpreted as a bullish signal. However, if this is breached, we could see a downward movement towards 33172 points, where another support is located. Otherwise, the price could rise to the aforementioned resistance and break through it. If the price does not rise further for the time being, a further consolidation at 34200 points could also initially occur there.