Dow Jones Industrial

Dow Jones Industrial (DJI) is now almost back to the low of previous degree wave IV which is at 33271. As per the wave counts, DJI is in wave 4 and within wave 4, it is wave v of c. So any positive close from hereon can possibly lead to a short-term bottom in DJI. The bulls will gain strength once the DJI breaks and start sustaining above the key hourly and the daily moving averages. In the forthcoming trading sessions, the low of wave IV of 33271 will be a crucial support level to watch out for.