Hi guys! The last time I presented to you my analysis on the chart of the Dow Jones Industrial Average or ^DJI was more than a week ago (kindly see it here). During that time, I was keen on expecting the index to drop as a breakdown from a head and shoulders took place. However, I was wrong. Like in my weekend wrap-up on the FTSE 100 which I posted earlier (kindly see it here), they both failed to fully break below the neckline of the head and shoulders formation as a rebound took place a couple of days after. As a result, there is now bullish formation that could be setting up which is the falling wedge and could take over the limelight on both the US and UK’s major stock indices. If the ^DJI breaks above the resistance of the possible falling wedge formation, not only does it confirm the bullish area pattern, it could also aim for the 10,627.20 price mark. Getting past the 10,627.20 level could make way to the next resistance at 10,952.80. On the downside, if a slippage takes place on the Dow Jones Industrial Average, the 1-year uptrend could serve as the current support. If the uptrend couldn’t hold on to the value from further dropping, the 9,596.04 support probably could.