• Dow Jones broke daily down channel
• Likely to fall to support level 35000.00
Dow Jones index continues to fall strongly after the earlier breakout of the support trendline of the daily up channel from November- which added to the bearish pressure on this index. The price earlier reversed down with the daily Bearish Engulfing from the key resistance level 36580.00 (previous monthly high from November)- which started the active downward correction.
Given the global deterioration of the risk sentiment that can be seen across the equity markets today – Dow Jones index can be expected to extend the losses toward the next support level 35000.00 (which reversed the price in the middle of last month).