{"id":6455,"date":"2024-11-01T11:49:19","date_gmt":"2024-11-01T11:49:19","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=6455"},"modified":"2025-05-13T07:53:49","modified_gmt":"2025-05-13T07:53:49","slug":"dj30-nov-2024","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/de\/education\/market-insights\/chart-of-the-day\/dj30-nov-2024\/","title":{"rendered":"DJ30 First Red Monthly Close in 6 Months"},"content":{"rendered":"\n

With election day drawing close, we finally saw a red month in the Dow Jones Industrial Average for the first time in 6 months.<\/p>\n\n\n\n

From the October opening price, the index pushed up by an impressive 1,065.35 pips (2.51%), reaching new highs at $48,387.35. However, following a harsh rejection, the Dow Jones fell by 1,647.85 pips (3.80%), closing at $41,739.50.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

With this monthly close, we now have a bearishness injected into the index with a bearish Shooting Star candlestick pattern<\/a>. Though a bearish reversal is not confirmed, it is now a possibility worth considering.<\/p>\n\n\n\n

The weekly EMA 100<\/strong>, visualised as a blue line, on the DJ30 is a somewhat respected exponential moving average<\/a>, which could potentially provide support for the asset.<\/p>\n\n\n\n

However, it currently sits at approximately 4,500 pips (10%) away, and is not worth considering as a support until the April High and September Low<\/strong> level at approximately $40,056.35 breaks.<\/p>\n\n\n\n

As we move into the US Election Day on November 5th, 2024, the DJ30 may see some extreme volatility during this week. <\/p>\n\n\n\n

Traders are advised to tread cautiously.<\/p>\n\n\n\n

\n\n\n\n

You may also be interested in:<\/strong><\/p>\n\n\n\n

\n
Preview of Apple and Amazon Q3 2024 Earnings<\/a><\/blockquote>