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In the early hours of the American session, the Dow Jones, #INDU, is trading at strong resistance of 34,375, above the SAM of 21 and above the EMA of 200, with a bullish bias, but slowing down little by little due to the barrier of 4/8 of murray.
The concern of traders and investors for inflation subsided in light of statements by FOMC members. Besides, China began to curb speculation on commodities. Federal Reserve officials reiterated that current data is not indicative of the type of inflation that would end an economic recovery.
The Dow Jones, #INDU, on several occasions has found strong resistance at this 4/8 murray level located at 34,375 on the chart. We have drawn a circle so that you can observe that there is now strong resistance. To overcome and consolidate above this zone, the index could rise to the psychological level of 35,000.
On the other hand, a pullback to the support of the 21 SMA and the 200 EMA around 33,940 will be a good opportunity to buy. In the medium term, the trend remains bullish for the Dow Jones.
As long as #INDU remains above the key 33,900 level, the outlook remains bullish, and buoyant demand could enable the index to reach the 35,000 psychological level.
Our recommendation is to buy if it breaks the 4/8 of murray or if it makes a technical bounce off the 200 EMA. On the other hand, the eagle indicator is showing a sign of exhaustion and there could be a correction in the next few hours.
Support and Resistance Levels for May 25 – 26, 2021
Resistance (3) 34,714
Resistance (2) 34,608
Resistance (1) 34,539
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Support (1) 34,190
Support (2) 34,001
Support (3) 33,841
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
