Dow Jones Technical Analysis – Daily Timeframe
On a daily timeframe, the Dow Jones initiated a price correction after reaching the upper boundary of its ascending channel. The order block zone highlighted in the chart presents a compelling demand area for potential buyer entry.
Dow Jones Technical Analysis – 1-Hour Timeframe
In the 1-hour timeframe, the Dow Jones experienced a deeper correction after breaking below the lower boundary of the ascending channel and pulling back to the channel’s lower area.
Currently, the $40,000 demand zone can be considered a potential price reversal area. If the price rebounds from this level, we can expect support to hold up to around $41,000. Otherwise, if the Dow breaks below the blue demand zone, it will face a heavier decline.