Noor Trends News, Technical Analysis, Educational Tools and Recommendations
A noticeable bullish rally for the Dow Jones Industrial Average on the New York Stock Exchange within the positive outlook, as we expected, surpassing the official target station 34,160, recording its highest level at 34,240.
On the technical side, the simple moving averages continue to hold the price from below, and we also find that the RSI continues to defend the bullish trend.
Therefore, we will maintain our positive outlook, provided we confirm the breach of 34,240, and that increases and accelerates the strength of the bullish trend, paving the way for the index to achieve gains that reach 34,355, and it may extend later to visit 34,510.
Trading below 33,930 is an important and basic condition for the continuation of the rise, and breaking the mentioned level will invalidate the activation of the suggested scenario, and the index’s movements will witness a bearish slope, with its target 33665. Note: The risk level is high.
| S1: 1.3925 | R1: 1.4000 |
| S2: 1.3880 | R2: 1.4040 |
| S3: 1.3840 | R3: 1.4080 |
