Chart the Market (24/08/2026)
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Chart the Market (24/08/2026)

Published: 24 August 2026,06:17

Published: 24 August 2026,06:17

Chart The Market

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Dow Jones,  H4:                                                               

The Dow Jones Industrial Average continues to trade within its long-term uptrend trajectory, having recently reached a fresh all-time high of 54,796.45 before entering a round of technical correction.

The latest price action shows that the index has staged a technical rebound from the 61.8% Fibonacci Retracement level near 52,800, suggesting that buyers have successfully defended a key support zone and that the broader bullish structure remains intact.

The 52,800 level is now the critical support to watch. As long as the Dow remains supported above this Fibonacci level, the index is expected to continue trading within its established long-term uptrend.

Should the Dow hold firmly above 52,800 and continue to gather bullish momentum, the index could extend its current rally and challenge, or even record, fresh all-time highs in the next leg.

Conversely, a decisive break below 52,800 would weaken the bullish outlook and could trigger a deeper technical correction, signaling that the recent pullback is evolving into a more sustained decline.

Resistance Levels: 53,955.00, 54,670.00

Support Levels:52,522.35, 51,586.45

XAGUSD, H4

Silver has reached a monthly high following a significant structural breakout at the beginning of the month, reinforcing the metal’s broader bullish outlook. However, the latest price action shows that bullish momentum has started to ease as silver approaches the critical psychological resistance level at $70.00.

The $70.00 level is now a key technical hurdle. A decisive breakout above this psychological resistance would provide a continuation signal and suggest that the current bullish momentum remains strong, potentially opening the path for further upside.

However, given the strong rally and the recent approach toward a major psychological resistance level, a technical retracement is also anticipated. Such a pullback could be viewed as a healthy correction following the recent structural breakout, provided that silver continues to hold above its key support levels.

Overall, silver remains bullish following its structural breakout, but $70.00 is the key level to watch. A sustained breakout above $70.00 would favor further upside, while rejection at this level could trigger a technical retracement before the next potential bullish move.

Resistance Levels: 73.70, 78.30

Support Levels: 65.35, 61.60

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