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Dow Jones index set to target 53,000 after support bounce

The index is seen reversing upward from a support zone around 51,500, tied to multiple technical levels including a 50% Fibonacci retracement.

Reported · Written up by our desk · FX Futures

Action Forex said the Dow Jones index recently reversed down from a support zone around 51,500, an area it described as aligning with several technical factors.

The outlet added that the bounce off that zone has already started an active minor impulse wave 5, which it links to wave (C) from March.

With the daily uptrend in place, Action Forex expects the index to rise further toward a next resistance level at 53,000.

Latest closeDow Jones 52,485.03 ▲0.5%

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