Dow Jones Settled Above Support

Positive trading dominated the movements of the Dow Jones Industrial Average after it succeeded in breaching the resistance level at 30,270, posting a high of 30,307.

On the technical side, the current movements on short time intervals are witnessing a bearish tendency, as a result of the price stabilizing below the minor resistance 30,155/30,160, but the stochastic indicator is still concentrated around overbought areas.

Therefore, we tend to be positive in our trading, knowing that trading above 30,160 increases and confirms the strength of the bullish trend, with the first target of 30,275, and then 30,470 next stops.

Returning trading stability and price stability below 29,915 negates the bullish scenario, and we may witness negative trades with initial targets start at 29760.

Note: the level of risk may be high today.

Note: we may witness a slight bearish tendency before attempts to rise.

S1: 29915	R1: 30275
S2: 29745	R2: 30470
S3: 29550	R3: 30635