DJIA Chart Analysis

Although the Dow Jones Industrial Index could improve its short-term technical starting position somewhat, the overall picture is one of consolidation. The limits for this are still relatively tight on both sides at the moment.

The small downward-movement of the Dow Jones, which developed after the Island Reversal sell-signal (red), could ideally be completed by midweek. However, the sign of weakness sent by this island-like reversal formation should not be forgotten too quickly. More than a trading range between 24.750 on the lower side and 26.400 / 26.800 on the upper side is not viable for the time being.

From an extended perspective, even a range from 22,800 / 23,800 in the south to 27,300 / 28,200 in the north is conceivable. Here, investors should pay close attention to whether the market can at least temporarily establish itself above its long-term average price (violet). If not, a stronger bounce back to the downside threatens at this zone.

Supports and resistances
Chart marks Level Strength
Upper target 2 26.800,00 weak
Overall target 1 26.400,00 medium
Lower target 1 24.750,00 medium
Lower target 2 24.400,00 weak

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