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.
This content is for informational purposes only and is not intended to be investing advice.
