Dow Jones Extends Gains

The Dow Jones Industrial Average continues to achieve gains after breaching the key supply area located at the price of 34,870, explaining during the last analysis that this can extend the index’s gains to visit 35,200, recording its highest level during the previous session’s trading of 35,830.

On the technical side, the positive motive coming from the simple moving averages that support the bullish curve for the price temporarily coincides with the continuation of the momentum indicator receiving positive signs.

Therefore, with the price pivoting above the previously breached resistance level and turning it to the support level of 35,480, the bullish bias is likely today, but cautiously, targeting 35,950 first target and then 36,130, with targets may extend later towards 36,200.

Activating the suggested scenario depends on the index’s stability being above 35,480, and breaking it can thwart the bullish scenario and put the index under negative pressure, initially targeting 35,460.

Note: The risk level is high and all scenarios are open.

S1: 35460	R1: 35950
S2: 35155	R2: 36140
S3: 34970	R3: 36440