Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Look For Higher Levels

Dow Jones 30 Technical Analysis

The Dow Jones 30 did very little during the early hours on Monday as we continue to see a lot of questions asked of the uptrend. That being said, I don’t necessarily think that this is a market that is any type of trouble really at this point, I also believe that you have a scenario where I think people are just simply digesting a lot of the gains with that being said, the 42,000 level being broken above is a pretty good sign of strength. We do have the flash manufacturing and services PMI numbers, uh, coming out of America later in the session.

So that is a possible catalyst of where we will go next, but really at this point, it looks pretty much straightforward that traders are going to continue to look to the Fed to cut rates. The fact that they cut 50 basis points, I think, will continue to put a little bit of a boost in this market, at least for the time being. The 41,600 levels, an area that I would watch as it was a previous resistance that should now be support based on market memory.

If we break down below there, then the 50 day EMA comes into the picture closer to the 40,750 level. But right now, I think we’ve got a situation where the market is trying to do everything it can to digest the upward momentum. We may go sideways for a minute, but it still has the proclivity to rise on each dip as value hunters come back into the market.

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