DOW Trading Under ATH | New Years Wedge
After seeing the DOW hit ATH last week, it looks like it could continue sideways for the next week or so as we approach the holiday season.
I'm watching $29,820 as weekly support and $29568 as Monthly support. Looking toward the upside, we've tested the $30,325 range as ATH twice in the last week, confirming it as a strong level of resistance. I'll be watching this wedge moving into the week as we watch for a breakout.
As the vaccine is distributed nationally and globally, we could aim to expect a continuation up that is unless we see negative news about this pandemic or vaccine. We also need to remember that Biden will be making his transition into the White House on January 20th, 2021.
God Bless America
I'm watching $29,820 as weekly support and $29568 as Monthly support. Looking toward the upside, we've tested the $30,325 range as ATH twice in the last week, confirming it as a strong level of resistance. I'll be watching this wedge moving into the week as we watch for a breakout.
As the vaccine is distributed nationally and globally, we could aim to expect a continuation up that is unless we see negative news about this pandemic or vaccine. We also need to remember that Biden will be making his transition into the White House on January 20th, 2021.
God Bless America
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