📈 Dow Jones Weekly | Fibonacci Channel in Play Since 2020
The Dow Jones Industrial Average has been trending within a well-defined Fibonacci channel on the weekly timeframe since the 2020 lows.
🔹 The price has consistently respected the Fibonacci levels as tilted support and resistance lines—a technical behavior that adds weight to this structure.
🔹 Three major horizontal support/resistance zones are clearly active and validated multiple times (highlighted on the chart).
🔹 Currently, the index is approaching the upper boundary of the downtrend resistance.
📌 The setup suggests it's only a matter of time before we retest this dynamic resistance zone, with potential rejection or breakout to follow.
🎯 Target zone around 45,000 as marked—aligning with previous highs and the upper resistance confluence.
Stay tuned—momentum is building.
#DowJones #DJI #FibonacciChannel #TechnicalAnalysis #WeeklyChart #StockMarket #Resistance #Support #Trendlines #ChartAnalysis #TradingView #US30 #MarketOutlook #PriceAction
The Dow Jones Industrial Average has been trending within a well-defined Fibonacci channel on the weekly timeframe since the 2020 lows.
🔹 The price has consistently respected the Fibonacci levels as tilted support and resistance lines—a technical behavior that adds weight to this structure.
🔹 Three major horizontal support/resistance zones are clearly active and validated multiple times (highlighted on the chart).
🔹 Currently, the index is approaching the upper boundary of the downtrend resistance.
📌 The setup suggests it's only a matter of time before we retest this dynamic resistance zone, with potential rejection or breakout to follow.
🎯 Target zone around 45,000 as marked—aligning with previous highs and the upper resistance confluence.
Stay tuned—momentum is building.
#DowJones #DJI #FibonacciChannel #TechnicalAnalysis #WeeklyChart #StockMarket #Resistance #Support #Trendlines #ChartAnalysis #TradingView #US30 #MarketOutlook #PriceAction
Trade geschlossen: Ziel wurde erreicht
Boom!
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.