Dow Jones Eyeing a Key Resistance

The protracted slide from 26,800 seems to have already bottomed out at 24,914. The reversal was confirmed on 30 June, when the Dow Jones violated 25,780. This can be easily verified on the chart by just spotting the series of higher lows and higher highs the index has been making since the last day of June. 

The US benchmark is currently trading just below the key from a technical perspective 26,000 level. An eventual breakout there will open the way to 26,420, en route to 26,791. This bullish case will remain valid as far as the Dow Jones continues trading above the 25,630 support.

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July 2, 2020