US30 - 4H DowJones is in a pullback

7 Agu 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.