• Dow Jones index reversed from support level 34675.00
• Likely to rise to resistance level 35500.00
Dow Jones index recently reversed up from the pivotal support level 34675.00 (which has been reversing the price from the start of August), intersecting with the lower daily Bollinger Band and the 38.2% Fibonacci correction level of the previous sharp upward impulse form the middle of June. The upward reversal from the support level 34675.00 started the active short-term upward impulse wave 3, which belongs to the intermediate upward impulse wave (3) from the middle of August.
Given the predominant upend that can be seen on the daily Dow Jones charts – the index can be expected to rise further toward the next resistance level 35500.00 (which has been repeatedly blocking all previous price advances from the sat of August).