The Dow managed to break below 42900 after the Fed’s hawkish tone yesterday and hit 42300 and below.
As we see over the chart, the market faces uptrend support around 41800-900, where as long as prices keep holding above this zone, a rebound correction toward 42900 will be expected which in turn could push back for another drop.
Below 41600 a new downtrend wave could hit the market toward 40500 and below.
Above 42900 the market will face resistance around 43200-300 zone and 43700.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 41800-900 | 42900 |
| LEVEL2 | 41600 | 43200-300 |
| LEVEL3 | 40500 | 43700 |
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