The Dow Jones faces a critical resistance zone near 49700, with downside pressure likely to test support at 48100 if levels hold.
As we see over the chart, the market is facing a resistance zone around 49500-700, where as long as prices hold below it, the drop pressure could continue towards the support of 48100 which could lead to a rebound.
Above 49700 more advance could hit the market with resistance at 50500.
SUPPORT | RESISTANCE | |
LEVEL1 | 48700 | 49500-700 |
LEVEL2 | 48100 | 50500 |
LEVEL3 | 47300 | 51000 |
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