Dow Jones 30 Price Forecast – Dow Jones 30 Continues to See Buyers Underneath

Dow Jones Technical Analysis

The Dow Jones 30 was somewhat sideways during the early hours on Wednesday as we continue to see a lot of back and forth action. All things being equal, this is a market that I think has plenty of support underneath near the 41,600 level, which was previously massive resistance. So therefore, I think the phenomenon of market memory comes into play. This is also a market that I think given enough time will have to keep an eye on the idea of whether or not momentum is running out, but that ends up being a buying opportunity in a situation where liquidity is the entirety of what matters.

In general, I think this is a situation where as long as we stay above the $41,600 level, it is likely going to be a scenario where you just buy the dips. Even if we break down below there, it’s likely that the 50-day EMA underneath offers support as well. On the other hand, if we rally from here and reach above the 43,000 level, then I think the market goes looking to the 45,000 level.

In general, I think we continue to see a lot of choppiness, but with more of an upward slant than anything else, especially as the Fed cutting interest rates will continue to throw liquidity into the marketplace. In this environment, it means that people will do what they have often done, simply buy “things” instead of holding onto the dollar itself.

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