Dow Jones Reaches Historic Highs

The Dow Jones Industrial Average jumped on Wall Street to achieve historical gains, as we expected, touching the official target 30,000 and approaching a few points difference from the second target 30200, to record its highest level at 30162.

On the technical side, and with a closer look at the 60-minute chart, we find the 50-day simple moving average continues to provide a positive motive, accompanied by stochastic around overbought areas. From here, the intraday trading remains above the psychological barrier 30,000 and generally above the support floor of 28880

The upside is likely today, targeting 30160 and then 30200 next stops, taking into account that trading above 30200 increases and accelerates and confirms the strength of the daily bullish trend, opening the way for the index to achieve new gains that extend to 30380.

From the downside, the return of trading stability below 28880 delays the bullish chances, but does not cancel it, and we witness a re-test of 27780 before attempting to rise again.

Warning: Today we are awaiting the Federal Reserve’s statement, and we may witness high volatility in the index’s movement.

S1: 27790	R1: 30205
S2: 29570	R2: 30380
S3: 29390	R3: 30610