Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Dow Jones Industrial Average maintained its gains, benefiting from building on the support floor mentioned in yesterday’s session, at 30,035.
On the technical side, we tend to be positive in our trading, but cautiously depending on the index price being above the 30,000/29,990 support level, accompanied by the persistence of the stochastic indicator around overbought areas.
Consequently, the bullish scenario will remain valid and effective, provided that the breach of 30,170 is confirmed to target 30,210 as a first target, and then 30,260 after it, knowing that the breach of the latter increases and accelerates and confirms the strength of the daily bullish trend to visit 30,310 next stop.
The return of trading to stability again below 30,000/29,980 is capable of cancelling the suggested scenario, and we may witness a bearish slope targeting 29,890 and extending towards 29,790. Note: the level of risk is still high.
| S1: 30025 | R1: 30210 |
| S2: 29965 | R2: 30310 |
| S3: 29860 | R3: 30380 |
