DJ30 is flooring around the support region, which is in confluence with the weekly and daily level at the price level of 33650. At this level, we will wait for the price action to form bullish and then continue moving up. The trend slightly turned into bullish after forming the higher highs and higher low structure. 

The descending trendline has broken out for buys and the market has validated the buys. We are looking at the 34000 as our profit target.

The retracement region of 50-61.8% is in confluence with the support level. Hence, making it a strong footheld. 

The EMA 50 is also bearish and the retest and the EMA 50 retest can be our profit target. But as the EMA 50 is curved really down, I do not anticipate the retest at the resistance level. 

RSI is at 54. It needs to neutralize at the level of 50 in order to align with the technical analysis on the price action.

Another stack up on DJ30 from support

Sep 29 2023