Dow Jones Extends Its Gains 4/1/2022

The Dow Jones index jumped in the New York Stock Exchange, achieving remarkable gains after building a solid support floor of 36,240 to record its highest level during the early trading of the current session at 36,526.

On the technical side, we tend to be positive but cautiously, relying on the RSI’s continued defense of the bullish trend, in addition to Stochastic’s positioning around the overbought areas.

From here, and with the stability of trading above the support level of 36,350 and in general, above 36,240, the bullish scenario remains valid and effective, targeting 36,660 and 36,700 initial targets, taking into consideration that the confirmation of its breach increases the strength of the bullish trend, to be waiting for the next 36,800 station.

We remind you that activating the suggested bullish scenario depends on the index’s stability above 36,240. Breaking it will immediately stop the attempts to rise and return the bearish trend to control the index’s movements with an initial target of 35840.

Note: The level of risk may be high.

S1: 36250	R1: 36660
S2: 35980	R2: 36800
S3: 35840	R3: 37070