Dow Jones attacking bullish 16/8/2022

The Dow Jones Industrial Average jumped, achieving strong gains on Wall Street, benefiting from the solid support floor at 33,400, recording its highest level at 33,933.

Technically, we tend in our trading to the positivity, relying on the positive signals coming from the RSI on the short time frames, which comes in conjunction with the continuation of the indicator receiving a positive stimulus from the 50-day simple moving average.

We believe there is a bullish rush for the index as long as it consolidates above 33,880, extending the gains, so we are waiting for 34,045 first target and then 34,210 next official station.

Trading below 33,595 forces the index to form a bearish slope with the target of 33,320 before attempts to rise again.

Note: The risk level is high.

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: 33595	R1: 34045
S2: 33320	R2: 34215
S3: 33145	R3: 34490