Dow Jones Analysis (Daily Time Frame)
As mentioned last week, the Dow Jones index was ready for a correction, and this has occurred. Given the intensity of the momentum created, it is expected that this index will move to the range of 43381 and even 42900:
- Main Scenario: If the correction continues and the 42900 area is broken, this index can move to the range of 41684.
- Alternative Scenario: If it reverses from these areas, it first faces resistance at 44529 to 44605, and if it breaks and stabilizes above this area, it can experience 45098 and even higher levels.
Dow Jones Analysis (4-Hour Time Frame)
In this time frame, the index is in an important area and can experience a temporary reversal from this range, either as a pullback to the broken area of 44467 to 44605 or moving towards higher numbers.
- If the above scenario does not occur and the bottom of 43739 is broken, this index can see the range of 42900.
Dow Jones Analysis (15-Minute Time Frame)
While the Dow Jones index is in its static support area, if it can reverse in a way that breaks its downward trendline and stabilizes above it, it can experience the 44038 area again, and if this area is broken, it can move to the range of 44467.
- If the above scenario does not occur, this index will continue its correction and can experience the number 42900.