Dow Jones index Technical Analysis 8 November, 2021

• Dow Jones index rising inside impulse waves 3 and (3)
• Likely to rise to resistance level 36800.00

Dow Jones index continues to rise after the price broke through the key resistance level 36000.00. The breakout of the resistance level 36000.00 was preceded by the breakout of the another key resistance level 35600.00 (previous monthly high from August). Both of these resistance breakouts accelerated the active impulse waves 3 and (3).

Given the clear daily uptrend and the improvement in risk sentiment seen across the equity markets today, Dow Jones index can be expected to rise further toward the next resistance level 36800.00 (target price for then completion of the active impulse wave (3).).

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