Dow Jones Volatility Increased Over $34,400 Price Area – Bulls To Regain Momentum?


Dow Jones has become volatile, but still holding the bullish bias over $34,400 to $34,500 support level. Dow Jones volatility increased over $34,400 price area. The bulls to regain momentum in the coming days? What are the charts and technical indicators are saying? Read more to find further insights into today’s DJI Technical Analysis. 

June 14, 2021, | AtoZ Markets – Dow Jones Industrial Average is currently trading around $34,480 price area and trying to push upside. After retracing towards $34,500 to $34,400 support level, the bulls pushed the price higher, but failed to sustain the bullish pressure over $34,800 to $34,900 price area and dropped again. As per the current price action, the price may face strong support around $34,400 to $34,500 area in the coming days.

Dow Jones Volatility Increased Over the Psychological Level

Dow Jones is currently residing near $34,480 price area and trying to climb higher. However, the price broke below the dynamic level of 20 EMA on the intraday chart.

Dow Jones Volatility

Image: DJI 4 Hour Chart

According to the 4-hour chart, Dow Jones volatility increased and currently trading around $34,480 price area. As per the current price action, if the price bounces higher from $34,400 to $34,500 support level with an impulsive bullish candle, the bulls may regain momentum and push the price upward towards $34,900 to $35,000 key area in the coming days. On the other hand, if the price can break below $34,500 to $34,400 support level, the bears may continue the bearish pressure towards $33,700 to $33,500 price area in the process.

Moreover, the dynamic level of 20 EMA is currently residing over the price. So, the bulls may regain momentum if the price can break above the dynamic level in the days ahead. Along with this, the MACD lines are currently residing above the 0.00 level and may have a bullish crossover. It indicates that the bulls may regain momentum in the coming days.

DJI May Strike Higher

According to the daily chart, Dow Jones volatility increased, but the bulls are still optimistic. As per the current scenario, if the price can have an impulsive daily bullish candle close above $34,400 to $34,500 support level, the bulls may sustain the bullish trend towards $34,900 to $35,000 price area as a first target. The second target will be $35,500 to $35,600 price area if the price can break above $34,900 to $35,000 key resistance area in the coming days.

Dow Jones Volatility

Image: DJI Daily Chart

Furthermore, the dynamic level of 20 EMA is currently residing below the price. Along with the Bollinger Bands middle band. So, the dynamic level may act as a strong support to push the price higher. Besides, the Bollinger Bands middle band may work as a confluence of the dynamic level in the process.

To conclude, as long as the price residing over $34,400 to $34,500 support level, the bias will remain bullish. An impulsive daily close is needed to identify the definite momentum in the coming days. 

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