For Traders

Analytical Reviews

Wave analysis

30.11.202207:14 Forex Analysis & Reviews: Elliott wave analysis of The Dow Jones Index for November 30, 2022

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Over the last one and a half months, we have seen the DJI correction in a possible B or X wave to a high of 34,386 or just above the 61.8% corrective target at 33,785. This should be enough and we should see the DJI lose steam from here and start to push lower towards support at 31,727. A break below here will confirm that the DJI has peaked for now and a new strong push lower towards at least 22,613 is in the cards.

That said, we might first see the real push lower at the beginning of 2023 as Christmas time always is beneficial for the equity markets.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.