Dow jones (DJIA) technical analysis: bearish trend watch
Investors and traders, a key technical signal in the Dow Jones Industrial Average (DJIA) points to a potential bearish trend. Let’s dive in:
- Broken trendline: the DJIA has broken below a significant trendline support, indicating a shift toward selling pressure and a possible downward trend.
Looking ahead: Bullish vs bearish price targets for Dow Jones
- Bearish target: if the price fails to cross back above the broken trendline, I’m looking at a potential downside target of 38,600.
- Bullish target: conversely, if the DJIA manages to cross back above the trendline, a bullish move toward 39,300 could be in play.
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This article was written by Itai Levitan at www.forexlive.com.