Dow Jones in Green as Markets Await Elections Results

Positive trading dominated the Dow Jones Industrial Average on Wall Street yesterday amid the US presidential election, to reach a peak of 27,670.

Technically, the stability of intraday trading and the index’s success in building a base on the psychological barrier of 27000 is a positive factor. This coincides with the RSI’s continued defense of the bullish bias over short periods of time.

We believe that there is a possibility to rise, but should trade very carefully and cautiously amid anticipation of the US election results, targeting 27810, knowing that breaking it enhances the chances of the upside to touch 28110.

On the downside, trading again below 27100, and the most important 27000, puts the index under negative pressure targeting 26650.

Warning: the level of risk is high and not in proportion to the expected return.

Warning: Trade should be cautiously awaiting the results of the US elections. The movements of the US index may witness violent random trades.

S1: 27075	R1: 27810
S2: 26645	R2: 28105
S3: 26350	R3: 28540