Dow Jones continues the bullish path 31/5/2022

The Dow Jones Industrial Average achieved noticeable gains during the last analysis, surpassing the official target required at 32950, ​​and recording its highest level at 33,430.

On the technical side, today, and carefully looking at the 60-minute chart, we notice that the RSI continues to defend the daily bullish trend, which comes in conjunction with stochastic positioning around the overbought areas.

With the index price’s stability above the support level of 33,030 and, most importantly, 32,950, ​​the bullish scenario remains valid and effective, knowing that the breach of 33,200 motivating factors enhances the chances of touching 33,380 first target and then 33,570 next price stations.

We remind you that activating the above suggested bullish scenario depends on the stability of trading above 33,030 and, most importantly 32,950. Breaking the latter may stop the expected rise and put the index price under negative pressure, targeting 32,880.

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: 33035	R1: 33380
S2: 32885	R2: 33575
S3: 32690	R3: 33720