Dow Jones 30 Price Forecast – Dow Jones 30 Continues to Rally

Dow Jones 30 Technical Analysis

The Dow Jones 30 has rallied slightly in the early hours on Friday as we continue to see a lot of noisy behavior. Short-term pullbacks continue to be buying opportunities as the market has been bullish, and every time we have pulled back recently, we certainly have seen a lot of buyers. The 41,600 level underneath is important as it was previous resistance. So, I do think that there will be a certain amount of market memory. If we can break down below there, then the market is likely to go looking to the 50 day EMA.

Breaking to the upside can go much higher, and at that point in time, the market goes looking to the 42,500 level, which of course is an area that would be certainly psychologically important. The Dow Jones 30, of course, will continue to benefit from interest rate cuts and it looks like the Federal Reserve is likely to continue doing this.

So, I think given enough time, we have plenty of buyers on any significant shakeup. If we were to break down rather significantly and drop below the 50 day EMA, I still think there’s plenty of support underneath that we would have to look at through the prism of a value-based opportunity. I think that will be the way going forward for most indices, not just the Dow Jones 30 when it comes to trading US equities.

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