Dow Jones builds on support 4/8/2022

The Dow Jones Industrial Average found a strong support floor around 32,400, which forced it to rebound to the upside again, indicating that the attempts to consolidate above the 32,600 resistance might be a catalyst that reinforces the idea of ​​touching 32,680 and 32,900, recording its highest level around 32,870.

Technically, the current trading is witnessing a bullish bias due to the indicator obtaining positive signals from the RSI stable above the mid-line 50 and the return of the 50-day moving average to hold the price from above.

We may witness a positive trading session, but with caution, provided that the breach of 32,780 is confirmed and extends the index’s gains, opening the door to visit 32,950 next price stations, whose targets may extend later towards 33100.

The breach below 32,600, the previously breached resistance and turned into a support level, renews the chances of negativity, and we are witnessing a retest of 32,400.

Note: the level of risk 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: 32480	R1: 32950
S2: 32210	R2: 33140
S3: 32020	R3: 33410