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Dow Jones futures set up another wave lower, technical outlook points to 51,182-49,991

The analysis says any bounce is expected to fail if the contract remains below 53,105, keeping near-term downside risk on the table.

Reported · Written up by our desk · Futures

Dow Jones futures are in a corrective phase after a low at 45,430 in wave 2, with Elliott Wave based analysis indicating the index remains vulnerable to additional downside in the near term.

According to Action Forex, the current structure suggests a further five wave decline in wave (y), with expectations for a move toward the 51,182 to 49,991 area. That range is described as a 100% to 161.8% Fibonacci extension target of wave (w).

The outlook also flags 53,105 as a key level, saying the broader wave 2 pullback could either finish near the extension zone or extend into a larger correction if structure does not change.

Over the next 24 hours, the analysis expects any bounce to fail in three, seven, or 11 swings while remaining below 53,105. It also notes the wave 2 pullback still looks relatively shallow compared with the earlier advance from 45,430.

Latest closeDow Jones 52,485.03 ▲0.5%

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