Dow Jones Technical Analysis – Daily Timeframe
The Dow Jones is currently trading within an ascending channel, having experienced significant growth over the past week. It is now consolidating near the channel’s upper boundary. If it fails to break above this resistance level, a pullback to the demand zone around 39,400 is likely.
Dow Jones Technical Analysis – 1-Hour Timeframe
On a 1-hour timeframe, however, the Dow Jones is currently undergoing a correction towards the lower boundary of the ascending channel after reaching its upper limit. A breakdown below the channel’s support level could indicate further bearish momentum. Conversely, a breakout above the channel’s resistance level would likely result in a rally towards the 4-hour channel’s upper.
Dow Jones Technical Analysis – 15-Minute Timeframe
Considering the 15-minute Dow Jones chart in conjunction with the supply zone, a breakdown below both the channel’s support and the demand zone would likely lead to further downward price action.