Dow Jones Based on Support

Mixed trading dominated the Dow Jones Industrial Average movements during the previous trading session, approaching a few points from the published target of 34,760 to record its lowest price of 34,770.

On the technical side, today, we find the indicator starts positively, based on support 34,770. With a closer look at the 60-minute chart, we find the 50-day moving average that provides a positive stimulus, coinciding with the positive signs of the RSI.

Therefore, we may witness a bullish bias in the coming hours, targeting a retest of the previously broken support-into-resistance at 35,200.

The return of trading and price stability below 34,790 can thwart the suggested bullish scenario and put the index price under negative pressure again, with an initial target of 34,570.

CAUTION: The risk level is high.

S1: 34790	R1: 35200
S2: 34570	R2: 35405
S3: 34370	R3: 35620