Forex Trading Library

Dow Jones – 22.08.2024

By Rami Abu-Draa On Aug 22, 2024

The Dow managed to meet the target of 40800-900 as the market is at risk of a correction which could hit towards the 40400 and 40000 levels.

As we see over the chart and if the market keep trading below 41000, this drop could hit at any time.

Above 41000, a chance for further advance is likely with resistances at 41400 and 41800.

SUPPORT	RESISTANCE
LEVEL1	40400	41000
LEVEL2	40000	41400
LEVEL3	39600	41800

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Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

Gold – 22.08.2024