Dow Jones Building on Support

Mixed trading dominated the movements of the Dow Jones Industrial Average during the previous trading session, touching the first target of the indicated bearish slope 35,460 and approaching by a few points from the next stop 35,320, recording its lowest price 35,365.

On the technical side, we find that the index remarkably benefited from stability once again above the support level of 35,500, accompanied by the RSI’s attempts to obtain positive signals on the short time frames.

Therefore, we may witness bullish movements in the coming hours, targeting 35,800 and 35,870 primary stations, considering that a breach to the upside to the level of 35,875 can enhance the index’s gains towards 36,040.

A breach below 35,500 puts the index price under negative pressure to retest 35,450 and 35,350.

Note: The risk level is high.

S1: 35450	R1: 35875
S2: 35195	R2: 36040
S3: 35030	R3: 36295