Dow Jones is looking for a positive stimulus 11/10/2023

Positive trades dominated the movements of the Dow Jones Industrial Average on the Wall Street Stock Exchange, trying to benefit from the support level of 33,780, recording its highest level of 34,090.

On the technical side today, we tend to be positive in our trading, but with great caution, relying on the positive motivation from the simple moving average and stimulated by the Relative Strength Index trying to obtain positive signals in short time frames.

From here, with trading remaining above 33,785, the upward bias is the most likely during today’s trading session, knowing that confirming the breach of 34,100 facilitates the task required to visit 34,255 as the first target and then 34,410 as the next station.

We remind you that sneaking below 33,785 can completely foil the proposed scenario and lead the indicator to form a negative attack to visit 33,620 and 33,470.

Note: Today we are awaiting high-impact economic data issued by the American economy, Producer Price Index and Results of the Federal Reserve Committee Meeting, and we may witness high volatility when the news is released.

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: 33785	R1: 34100
S2: 33620	R2: 34255
S3: 33470	R3: 34415