Dow Jones continues to make gains 15/12/2023

The Dow Jones Industrial Average exhibited a significant surge on Wall Street in line with the anticipated bullish trend, successfully attaining the designated official target of 37670 and reaching its highest level at 37697.

In today’s technical analysis, a positive inclination is noted, with reliance placed on the Relative Strength Index’s commitment to defending the upward trend. Additionally, there is observed stability in trading above the robust support level of 37320.

As a result, the prevailing preference leans towards the continuation of the upward trend, with a target set at 37875, representing the next official station. Positive objectives extend further towards 38070, provided that trading remains steady above the 37320 support level.

It is imperative to be mindful that a breach below the support level of 37320 introduces a temporary negative pressure on the index, with a potential retracement towards 36950 before resuming an upward trajectory.

A note of caution is warranted, highlighting the high level of risk amid ongoing geopolitical tensions, and the market may experience heightened price volatility. Vigilance and prudent risk management are advised in such conditions.

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: 37320	R1: 37875
S2: 36950	R2: 38070
S3: 36760	R3: 38435