DOW trade ideas
US30 Retracement? 29.09.2023The U.S. benchmark indices have come to a downward halt finding strong support.
There is a possibility that we will see a retracement as per the arrow today. Currently there are some resistance levels that are stopping the index from moving to the upside. They will potentially brake after the NYSE opening.
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Technical analysis of DOW JONES time 1 hour: 2023.3.29According to the standard MACD conditions, we can expect three goals based on harmonics and two goals based on the formation of a corrective (upward) wave in the form of a decrease based on a combination of important percentages for correction.
Harmonic goals
With a little flexibility, the range is 54.296
The second target is the range of 55.320
The third target is the range of 56.574
As always, it is emphasized that the reason for being touched is not all of the above goals. Each target, in case of being touched, can act as a resistance to reach the next goal, and after failure, it can act as a support.
