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

Dow Jones Technical Analysis

The Dow Jones 30 rallied a bit during the early hours on Monday as the 50 day EMA has offered technical support. This is not a huge surprise considering that the market has been one that is very bullish in general. So, you would have to ask how long could the selling pressure last as long as people are in the buy on the dip mentality. And with that being the case, I also believe that we’ve got a scenario where traders are going to continue to look at this through the prism of whether or not we are risk on or risk off.

In general, this is a market that’s been in an uptrend forever. And at this point, I think you will continue to see a lot of interest in buying it, perhaps trying to push it towards the 41,700 level. Anything above there could open up an even bigger move, but as things stand right now, we have a market that is certainly technically supported, not only at the 50-day EMA, but also the 40,000 level, possibly even the uptrend line as well. Keep in mind that the Dow Jones 30 could be a major beneficiary to any stimulus that comes out as well, mainly due to the fact that the companies on the listing are some of the biggest industrials in the world. So that is something that perhaps traders are starting to prepare for.

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