
Technical Analysis for Dow Jones Index (US30)
The Dow Jones Index is moving sideways on the 4-hour timeframe, after successfully bouncing upwards from the MFVG zone. Currently, prices are trading around the 44,227 level, following a structural shift from bearish to bullish and the formation of an IFVG zone on the 4-hour chart. It is worth noting that the index is in an uptrend on both the daily and weekly timeframes, which supports further upward movement.
Key Economic News
The U.S. dollar is awaiting the release of the ISM Services PMI today, which is expected to have a significant impact on dollar movements, and subsequently on major indices, including the Dow Jones.
Liquidity Levels
The index is expected to target the 44,755 level, followed by 45,120.
The bullish scenario will be invalidated if prices drop to revisit the 43,455 level.