Dow Jones is Building on Support Amid Mixed Trading 14/4/2022

The Dow Jones Industrial Average benefited from the pivotal support at 34,170, in addition to being able to confirm the breach of the pivotal resistance level published during the previous analysis, at 34,250, explaining that the consolidation above the mentioned level can stop the bearish bias and lead the price to visit 34,490, recording its highest level. 34,507.

Technically, we find the simple moving averages that support the bullish trend in prices, accompanied by positive signals coming from the RSI on the short time frames.

Therefore, there may be a possibility of positive movements during the day, targeting 34,625 and 34,650, respectively, knowing that the breach of 34,650 and the consolidation above it may extend the index’s gains to visit 34,790 as long as the price is generally stable above the pivotal support floor 34,170.

Any trading below 34,170 will immediately stop the bullish scenario and put the price under strong negative pressure, targeting 33,880.

Note: The risk level is high.

S1: 34170	R1: 34625
S2: 33880	R2: 34795
S3: 33710	R3: 35085