Forex Trading Library

Dow Jones – 11.10.2024

Technical Analysis
By Rami Abu-Draa
Dow Jones – 11.10.2024
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The Dow is holding below the resistance at 42650, having dropped below the first support level of 42360 yesterday.

The market may be forming a descending triangle between support at 42300 and resistance at 42520 before a potential decline.

The main support remains around 41825. A breakout above 42520 would signal strength, aiming for a move above 42650 toward the 43000 zone.

 

SUPPORT RESISTANCE
LEVEL1 42300 42520
LEVEL2 41825 42650
LEVEL3 41440 43000
Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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