• Dow Jones broke the resistance area
• Likely to rise to resistance level 33500.00
Dow Jones Industrial Average index under the bullish pressure after the price broke the resistance area lying between the resistance level 32000.00 (which stopped the previous minor upward impulse wave 1 at the end of February) and the resistance trendline of the daily up channel from November. The breakout of this resistance area accelerated the active short-term impulse wave 3 – which is a part of the higher order upward impulse sequence (3) from the end for January.
Given the global improvement in risk sentiment after dovish Fed comments – Dow Jones Industrial Average index can be expected to rise further toward the next resistance level 33500.00 (target price for the completion of the active impulse wave 1).
