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

Dow Jones Technical Analysis

The Dow Jones 30 rallied slightly during the early hours on Monday as we continue to see an attempt to break to the all-time highs. At this point in time, I think you’ve got a situation where the market is simply one that you’re buying dips due to the fact that the Federal Reserve is likely to cut rates. And if that’s going to be the case, then it’s very possible that we have a situation where traders will look at each dip as a potential buying opportunity. Whether or not this is sustainable over the longer term remains to be seen. But right now, I would say that buyers are definitely looking for any type of value they can find.

I do see a lot of support near the 40,750 level. And then again, down at the 50 day EMA, if we do get some type of breakdown, but by all accounts, it looks like we are going to go higher to kick off the week. And it’s probably worth noting that there isn’t much in the way of economic announcements coming out in the next couple of days. That in and of itself might make the market quiet enough for the buyers to feel a little bit more confident.

Whether we can sustain this over the longer term remains to be seen because there is a lot of economic concern out there, but in the short term it certainly looks like we’re going to try to punch through the recent all-time high.

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