Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Dow Jones Industrial Average was able to achieve our bullish targets published in the previous analysis, touching the first target located at 34,040/34,050 and approaching a few points difference from the second target 34,150, to record its highest level at 34,120.
On the technical side today, and with a closer look at the 4-hour chart, we find the RSI stable above the 50 midline, in addition to stochastic concentrating around overbought areas.
From here, with steadily trading above 33,860, the bullish bias is expected today, targeting 34,125, and its breach extends the index’s gains, opening the way directly towards 34,250 next stations.
The Dow Jones Industrial Average was able to achieve our bullish targets published during the previous analysis, touching the first target located at 34,040/34,050 and approaching a few points difference from the second target 34,150, to record its highest level at 34,120.
On the technical side today, and with a closer look at the 4-hour chart, we find the RSI stable above the 50 midline, in addition to stochastic concentrating around overbought areas.
From here, with steadily trading above 33,860, the bullish bias is expected today, targeting 34,125, and its breach extends the index’s gains, opening the way directly towards 34,250 next stations.
Only from below the return of trading stability below 33,860 will the bullish trend stop putting the index price under negative pressure aiming at re-testing 33,720. Note: the risk level is still high.
Only from below the return of trading stability below 33,860 will the bullish trend stop putting the index price under negative pressure aiming at re-testing 33,720. Note: the risk level is still high.
| S1: 33860 | R1: 34125 |
| S2: 33720 | R2: 34250 |
| S3: 33600 | R3: 37385 |
