Dow Jones is holding above initial support 25/4/2023

The Dow Jones Industrial Average approached the first bearish target published during the previous technical report at 33,610, to record its lowest price in the last trading session at 33,630.

Technically, we find the stochastic indicator trying to eliminate the current negativity and the index stable above the support floor of 33,655, accompanied by the simple moving average’s attempts to carry the price from below.

We tend to be positive, but with caution, targeting 33,920 as the first target, knowing that the index price’s consolidation above the mentioned level extends the gains, opening the way directly towards 34035, and the gains may extend later to visit 34,170.

The price’s decline below 33,655 will lead the index to strong negative pressure, with its initial target around 33515.

Note: The risk level is high.

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: 33655	R1: 33920
S2: 33515	R2: 34035
S3: 33390	R3: 34175