Dow Jones continues to make gains 23/3/2022

The Dow Jones Industrial Average touched the first target at 34,420, completing its upward march to visit the second target price station 34635, recording its highest level during the previous trading session 34,790.

On the technical side today, and carefully considering the chart, we notice that the indicator continues to obtain a positive stimulus from the 50-day moving average, which supports the bullish price curve, accompanied by the RSI gaining more bullish momentum on the short time frames.

Therefore, the possibility of resuming the rise is still valid, provided that we witness a clear and strong breach of the 34,790 resistance level, which can enhance the index’s gains towards 34,910, an initial target, and a breakthrough that increases the strength of the bullish trend towards 35,065, as long as the index is stable above the 34,170 support level.

The breach below the mentioned support can reverse the bullish trend and put the price under strong negative pressure towards 34,070 and 33,600.

Note: The risk level is high.

Note: CFD trading involves high risk; all scenarios may occur.

S1: 34490	R1: 34915
S2: 34215	R2: 35065
S3: 34070	R3: 35340