With the core personal consumption expenditures price index (Core PCE), which is announced last Friday, rose to 4.9% in August on an annual basis, the expectations that the US Federal Reserve (FED) will continue its aggressive tightening put the DOW30 index under strong pressure. However, PMI data put an end to this pressure. The production purchasing managers' index (PMI), reported by IHS Markit and S&P Global, rose to 52.0 points, revealing that the economic activity in the country was alive, causing a reaction to the DOW30 index. From this point of view, 29 450 level will be closely followed in the index, which erodes the upper boundary line of the descending wedge formation in its recovery. If it can be passed over here with permanent closures, the formation can end with confirmation and 29 660, then the 29 820 resistance, which is indicated by the Fibonacci ret 50.0% line, may enter the radar of market players. In possible downward movements, psychological 29 000 support will continue to be followed.

Support: 29 450 – 29 660 – 29 820
Resistance: 29 000 – 28 800 – 28 580