Anticipating DJIOn the daily timeframe, the current position of the Dow Jones Industrial Average (DJI) is projected to follow one of three possible scenarios:
Scenario 1 (Black Label):
DJI is currently in the process of forming Wave iv of Wave , implying that any short-term rebound is likely to be limited. The index may test the resistance area between 43,953–44,142, but remains vulnerable to further downside correction thereafter.
Scenario 2 (Red Label):
In this scenario, Wave 4 is considered complete, allowing DJI to resume its upward momentum. A breakout would signal the start of Wave 5, targeting the 45,324–46,465 range for a potential new higher high.
Scenario 3 (Blue Label):
Here, DJI is assumed to be in the midst of Wave 4 of Wave (5). A corrective move is expected first, potentially revisiting the support zone around 42,262–43,028, before continuing its bullish trend to form a new higher high.
