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The Dow extended gains, printing a high at 47,770 in the prior session. Momentum remains constructive.
Technical picture
- The 50-period SMA (H4) continues to slope higher beneath price, offering dynamic support and reinforcing the uptrend.
- RSI (H4) holds above the midline (50), consistent with positive short-term momentum.
Base case (favored)
While 47,570 holds as support, the intraday bias remains higher toward 47,795. A break/close above 47,795 opens 47,890, with a stretch target at 48,020.
Alternative case (pullback risk)
A decisive break and H4 close below 47,570 would temper the bullish tone and expose a dip toward 47,450, where buyers may attempt to reassert control.
Key levels
- Support: 47,570; 47,450
- Resistance: 47,795; 47,890; 48,020
Risk note
Market risk is elevated and may be disproportionate to potential returns. This analysis is for information only and does not constitute investment advice.
Trading in CFDs involves risks, and therefore all scenarios are subject to potential outcomes. The analysis provided above is not a recommendation to buy or sell but rather an illustrative reading of price action on the chart.
| S1: 47570 | R1: 47795 |
| S2: 47450 | R2: 47890 |
| S3: 47350 | R3: 48015 |
