Forex Trading Library

Dow Jones – 08.07.2024

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As projected last Friday and as we see on our previous chart, the Dow fell lower after the US labour market data was released. Prices hit a 39155 low before rebounding above the support 39200.

The market is showing the first support around 39150-200, where as long as prices keep holding above it, the advance wave could sustain toward target 39750 and higher.

Below 39150, will be the first weak sign with the second support laying at 38700-900 zone which could push again for another advance wave.

Below 38700, a new downtrend wave could start toward the 37700 zone.

LEVEL1 39150-200 39450
LEVEL2 38700-900 39750
LEVEL3 38000 40095

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