Dow Jones is making strong gains ahead of the inflation data 14/2/2023

The Dow Jones Industrial Average jumped on Wall Street yesterday, realizing remarkable gains after it managed to build on the support of 33,770, recording its highest level at 34,254.

On the technical side today, we are positive in our trading based on the positive signs from the RSI and the positioning of Stochastic around the overbought areas.

With the stability of daily trading above the previously breached resistance, transformed into the support level of 34,000, the bullish scenario remains valid and effective, targeting 34,395 as the first target, and breaching it increases and accelerates the strength of the bullish trend, to be waiting for 34,585 as the next station.

We remind you that decline below 34,000, and most importantly 33,950, nullifies the activation of the suggested scenario above and puts the index under strong negative pressure to visit 33,870 and 33,540, respectively. Note: The risk level is high.

Note: Markets are awaiting high-impact data issued by the US economy, “US inflation data/consumer price index”, and we may witness high price fluctuations at the release.

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: 33870	R1: 34395
S2: 33540	R2: 34585
S3: 33345	R3: 34920