Dow Jones Faces Strong Resistance: Bearish Reversal in Play?
The chart highlights a gray resistance zone at the top, indicating an area where the price has struggled to break through. This zone represents a strong supply area where sellers are entering the market.
The purple horizontal lines represent key support levels at approximately 39,200, 39,000, and 38,800. These levels are critical points where the price may find buyers or continue its bearish momentum.
The price recently approached the upper resistance zone but failed to break above it.
The candlesticks show a series of wicks near the resistance, indicating rejection and the presence of sellers.
The price is expected to move lower after testing and failing to break through the resistance zone.
The purple horizontal lines represent key support levels at approximately 39,200, 39,000, and 38,800. These levels are critical points where the price may find buyers or continue its bearish momentum.
The price recently approached the upper resistance zone but failed to break above it.
The candlesticks show a series of wicks near the resistance, indicating rejection and the presence of sellers.
The price is expected to move lower after testing and failing to break through the resistance zone.
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