Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Look For Momentum After Losses

Dow Jones Technical Analysis

The Dow Jones 30 rallied slightly during the early hours on Monday as we continued to dance around the 50-day EMA. At this point in time, it looks as if we may make an attempt to get to the 40,000 level again, or the other possibility could be a pullback into the consolidation that we have seen over the last several days. There’s also an uptrend line underneath that offers support right along with the 200-day EMA. The 200-day EMA, of course, is a major indicator that a lot of people will be paying attention to.

So, if we were to turn around and break down below the 200 day EMA, ostensibly the 38,000 level, then the market could really start to fall apart. On the other hand, if we do rally from here and break above the 40,000 level, we could go looking to the 41,000 level, which is where we have seen quite a bit of selling pressure.

In general, this is a market that I think continues to see a lot of noisy behavior. But ultimately, I do think that it’s probably only a matter of time before we try, at least to continue the uptrend. That being said, there is a lot of concern out there when it comes to the financial system. So, I do think that volatility has not disappeared. I think it’s just taken a bit of a break.

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