DJ30 is in a bullish trend with the formation of higher highs and higher lows. The support level is formed at the price of 38300. From here, the bullish price action will be formed for the continuation upwards. If the market starts to move up, it will tap the resistance level for the profit taking. 

The descending trendline is on the verge of breaking out from the price action. After the breakout, we need the validation of the price action to continue moving up.

The retracement level of 61.8% is in confluence with the support level. When the price action is formed bullish, it will continue movin up.

EMA 50 is still bullish. It means, there is a further chance for the market to continue moving up.

RSI is at 55. It needs to neutralize at the level of 50 to align with the technical factors. 

DJ30 buys from support

Feb 06 2024