• Dow Jones index reversed from resistance zone
• Likely to rise to resistance level 0.7200
Dow Jones index recently reversed down with the daily Japanese candlesticks reversal pattern Bearish Engulfing from the resistance zone located between the key resistance level 36520.00 (previous monthly high from November) standing close to the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous impulse waves (iii) and 3.
Given the strength of the aforementioned resistance zone, Dow Jones index can be expected to fall further toward the next support level 36000.00 (previous multi-candle resistance level from November and December).