• Dow Jones index reversed from support zone
• Likely to rise to resistance level 35500.00
Dow Jones index recently reversed up from the support area located between the major support level 33850.00 (which stopped the previous short-term correction 2 in the middle of July), lower daily Bollinger Band and the 61.8% Fibonacci correction of the sharp upward impulse from June). The upward reversal from this support area created the daily Japanese candlesticks reversal pattern Morning Star which stopped the previous intermediate ABC correction (2) from the middle of August.
Given the strength of the aforementioned support area and the predominant uptrend, Dow Jones index can be expected to rise further toward the next resistance level 35500.00 (which stopped the previous waves 5, (a) and B).
