DJ30 is in a bullish trend with the formation of higher highs and higher lows. The support level is formed at the price of 38340. 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 ascending trendline might retest the price action at the support level, therefore, creating another confluence at the support level.

There is no retracement level in this setup.

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

RSI is at 53. It needs to neutralize at the level of 50 to align with the technical factors.

DJ 30 bullish from support

Feb 08 2024