Dow Jones repeats the rising chance 26/5/2022

During the previous analysis, the Dow Jones Industrial Average provided positive trades within the expected bullish path, close to touching our required target at 32,265, to be satisfied with recording the highest 32,210.

On the technical side today, and with a closer look at the 60-minute chart, we notice that the stochastic is centred around the overbought areas, and we find the index’s Price is stable above 31750.

There is a possibility to continue the limited rise that started yesterday, but with caution, provided that we witness cohesion in the Price above 32,090, and this is a catalytic factor that enhances the chances of touching 32,265 first target, taking into consideration that the confirmation of the breach of 32,275 increases and accelerates the strength of the bullish bias, opening the door directly towards 32,400 as long as the Price is stable above 31,750.

Cracking below 31,740 might be able to thwart the expected bullish scenario, and we will witness a retest of 31,450 and 31,260, respectively.

Note: the level of risk may be high and not commensurate with the expected return.

Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.

S1: 31745	R1: 32275
S2: 31450	R2: 32510
S3: 31260	R3: 32800