DJIA neutral

Where DJIA will move to?

21 february 2022 161
Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
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A month ago, the series of reversal patterns consists of hammers and doji stars succeeded in keeping the decline of DJIA below 34,000.


And again, the price storms this support.


On the one hand, the support level is strong and probably will not be easily broken down, plus the line of the DeMarker indicator slowing the decline rate down approaches the oversold zone, plus the waning Moon indicates a certain increase in the index until the end of February.


From the other hand, the price could still break the support down and moves downward to the next support level of 33,000.


Thus, it is better to wait for the breakdown or pullback from 34,000. Then, the index direction becomes clearer.

Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
1st in the segments "Currencies", "Indices", "US stocks", "Metals" and "Oil and gas"
2nd in the segment "Crypto"
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