Dow Jones is building on support 29/6/2023

The Dow Jones Industrial Average achieved good gains within the expected bullish track yesterday, touching the official target to be achieved at 34,210, recording its highest level at 34,218.

On the technical side, we tend to rise, but with caution, relying on stochastic around the overbought areas and the index’s price building above the strong support floor at 33,885.

The bullish bias is most likely during the day, knowing that the price’s consolidation above 34,215 open the door towards 34,280 and 34,330, respectively, and the gains may extend later towards 34,440.

Stability below 33,885 will immediately stop the attempts to rise and put the index under strong negative pressure, with a target of 33,770.

Note: Today we are awaiting high-impact economic data issued by the US economy “Quarterly Gross Domestic Product”, and we may witness high volatility at the time of the news release.

Note: The level of risk is high and may not be commensurate with the expected return.

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: 33990	R1: 34216
S2: 33885	R2: 34330
S3: 33770	R3: 34440