Dow rises to new all-time highs.

08/02/2021

The Dow Jones index broke above 31,300 USD on Monday and posted fresh all-time highs as the bull market continues. 

The important short-term support seems to be at previous highs of 31,250 USD, and as long as the index trades above that level, the short-term seems bullish.

However, if a sell-off occurs during the US session, the index could decline toward 31,000 USD or the next buying zone near the 10-day EMA at 30,900 USD.

It is hard to define any meaningful resistances as the price has never been here. The psychological levels of 31,500 and 32,000 USD could be valid for some profit from the recent rally. 

Fundamental situation still remains bullish as central banks and governments are flooding the markets with money, thus, dips are expected to be bought.. 
Cookie Policy: The Axiory website uses cookies and by continuing using the website you consent to this. Risk Warning: Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Please read the full Privacy Policy.