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Dow jones, Time frame: 1 DThe Dow Jones (US30) has broken below the lower trendline of the ascending channel that guided the rally from April through August. The channel had consistently produced higher highs and higher lows, but the recent decline has pushed price beneath this support structure, marking a shift in the near-term technical landscape.
Bollinger Bands
Price has moved below the Bollinger midline and is now trading closer to the lower band, highlighting a loss of upside momentum following the rejection from the August highs. While previous pullbacks into the lower Bollinger Band attracted buyers, the latest decline has produced a more muted response, suggesting recovery momentum remains limited for now.
51,583 Emerges as the Next Major Support
With the channel support now broken, focus shifts to 51,583, which represents the next significant support level below current price. This area previously acted as a key reaction zone during earlier pullbacks and could become an important area where buyers attempt to regain control.
Should selling pressure intensify, the next major reference level sits near 49,672, which marked the base of the broader advance earlier this year.
54,000 Remains the Key Resistance Zone
The August peak near 54,010 continues to act as the dominant resistance level overhead. Before a retest of the highs becomes realistic, buyers would need to reclaim the broken channel support and establish acceptance back above the 53,100–53,700 region.Until then, rallies may continue to encounter resistance within the former support zone.
Momentum Shows Early Signs of Stabilising
The RSI is currently holding around 43.5, recovering slightly from its weakest reading since late August. Although the indicator remains below the neutral 50 level, the recent uptick suggests downside momentum may be starting to moderate after the sharp decline from the highs. At this stage, momentum reflects stabilisation rather than a confirmed recovery.
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