Dow Jones touches targets, eyes on Fed 23/11/2022

The Dow Jones Industrial Average touched the official target station during the previous analysis at 34,000, recording its highest level of 34,134.

Technically, the index continued to receive a positive impulse from the simple moving averages that continue to hold the price from below, which supports the possibility of continuing the rise, in addition to the positive signs coming from the 14-day momentum indicator on the short-term intervals.

Therefore, the bullish scenario may be the most favorable during the day, but with caution, targeting 34,270, the expected target, and the gains may extend towards 34,460, unless we witness any trading again below 33,950.

Note: We are awaiting high-impact economic data in the US, “the preliminary reading of the services and manufacturing PMI and Federal Reserve Committee meeting”

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: 33770	R1: 34275
S2: 33440	R2: 34460
S3: 33260	R3: 34785