US30 - 4H DowJones is in a pullback

7 באוג׳ 2024

The Dow Jones Industrial Average (DJIA) is currently facing significant bearish pressure, as indicated by recent market trends and technical analysis. The support trend line has broken, leading to a notable drop in the index. This break, coupled with a clear pullback, presents an opportune moment for traders to consider short positions with a logical stop loss.

From a fundamental perspective, the rising rate of unemployment and the postponement of interest rate cuts are increasing the chances of a recession. These economic indicators suggest that the market could experience further declines as investors react to the potential economic downturn.