Dow Jones is looking for more momentum to resume its rally 4/1/2023

Trading tended to be positive and dominated the movements of the Dow Jones Industrial Average on the New York Stock Exchange. As a reminder, we adhered to intraday neutrality in the previous technical report, explaining that activating buying positions depends on confirming the index’s breach of the resistance level of 33,350, to consolidate the gains towards 33,405 and 33,430, touching the required targets, recording its highest level of 33,491.

Technically, we tend to be positive, but with caution, relying on the positive impulse coming from the 50-day simple moving average and the positive signs coming from the RSI on the 60-minute time frame.

The bullish slope may be the most favourable during today’s session, with trading steady above 33,050, targeting 33,480 as a first target, and breaching it may consolidate the index’s gains, opening the door to 33,490 & 33,810.

The decline below 33,060 puts the index under strong negative pressure, targeting 32,840.

Note: The level of risk is high and not 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: 32835	R1: 33485
S2: 32515	R2: 33810
S3: 32185	R3: 34135