Dow Jones Building on support 8/4/2022

Positive trading returned to dominate the movements of the Dow Jones Industrial Average after it succeeded in building on the strong support floor 34,180 touching the stop-loss order published during the previous analysis at 34,610, recording its highest level at 34,610.

On the technical side, the current moves on the short intervals are witnessing a bullish bias as a result of the intraday stability above 34300, accompanied by the 14-day momentum indicator gaining positive momentum.

From here, there may be a possibility of an upward trend in the coming hours, provided that we witness cohesion above 34,610, which enhances the chances of the index price heading towards 34,690 and 34,830 respectively as long as the price is generally stable above 34,180, knowing that the limited bullish slope does not contradict the bearish trend, which Its targets are located around 33,870, provided that the strong support floor 34,180 is broken.

Note: The risk level is high.

Note: CFD trading involves high risk; all scenarios may occur.

S1: 34180	R1: 34695
S2: 33870	R2: 34910
S3: 33655	R3: 35210