Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Dow Jones Industrial Average jumped during the previous session within the expected upward trend in the last analysis, touching the official target station at the price of 32,400, recording its highest level at 32,730.
Today’s technical aspect indicates the possibility of resuming the rise, with stochastic concentrating around the overbought areas, which comes in conjunction with the RSI’s continuation of defending the daily bullish trend.
Therefore, the bullish scenario is the most likely, provided that we witness stability for the index above 32,270, targeting 32,865, considering that the breach of the target level can enhance the index’s gains, opening the door directly towards 32,950.
Remind that stability above 32,270 is necessary to activate the suggested scenario, and trading below 32,250 may put the price under negative pressure, with its initial target to retest 32,125.
Note: the level of risk may be high.
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