📝 1. Market Context
The
DJI dropped sharply from the recent high around 46,700 down to near 45,700, showing that sellers are currently in control in the short term. After this sharp decline, price is experiencing a mild recovery but still remains within a clearly defined downtrend channel and below key resistance.🟥 2. Resistance Zone
The major resistance is located around 46,250 – 46,130 (highlighted in blue on the chart):
• This zone overlaps with the EMA and the upper band of the Keltner Channel.
• It was previously a sideways consolidation area that has now turned into resistance.
• It also intersects with the descending trendline, making a bearish rejection likely.
🟩 3. Support Zone
The nearest support lies at 45,858 – 45,748 (first pink zone).
If price breaks below this level, it is likely to continue falling toward the lower support zone at 45,520 – 45,640 (second pink zone).
🚨 4. Bearish Scenario
• Main scenario: Wait for a price pullback into the 46,250 – 46,130 area and watch for bearish signals → then SELL.
• Target: First target at 45,860 – 45,750 → if broken, expect further decline toward 45,520 – 45,640.
• Invalidation: A daily close above 46,250 would invalidate this bearish setup.
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