Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Look Consolidated

Dow Jones 30 Technical Analysis

The Dow Jones 30 has been very sideways in general during the trading session on Wednesday so far, which does make a certain amount of sense considering that we continue to work off the froth from the move higher. Short term pullbacks at this point in time, I do think will offer plenty of value that people are willing to take advantage of. To the upside, the market should continue to see the 42,500 level as a potential target. This is an area that has been important recently, so I assume it will be again when we reach it.

Underneath current trading, the 41,600 level comes into the picture as potential support, as it was massive resistance previously. The 50-day EMA sits right by the 41,600 level, so I think it’s probably a situation where traders will continue to look at each and every dip as value. The Dow Jones 30, of course, will continue to be a proxy for risk appetite.

And I do think ultimately, we’ve got a scenario where value hunters will come in and pick it up. But even beyond that, I think given enough time, we overall are going to continue the longer term trend, perhaps driving towards the 45,000 level. This is a large, round number that a lot of people will be paying close attention to, assuming we can get there.

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