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Daily Technical Report 8-7-2024

Technical Analysis
By Shady Fouad
ENGLISH
0 4

DOW JONES

DOW JONES

The Dow Jones index tested the resistance zone at $39,500 in previous trading sessions. If this level is broken to the upside, we may retest the previous high around $40,100. However, it is more likely that the index will continue its narrow sideways movement and test the support zone at $39,080.

Support

 39080 38850 38480
Resistance 39450 39665

39800

NASDAQ

NASDAQ

The Nasdaq index is moving in an upward trend in the medium term, which opens the door for prices to rise and form new highs. However, if prices break below the support zone at $20,180, it is likely that they will target the $19,900 zone.

Support

 20180 19900 19650
Resistance 20435 20500

20600

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Shady Fouad

Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.

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