Dow Jones is making good gains ahead of the inflation data 12/1/2023

The Dow Jones index achieved the first bullish target required to be touched during the previous report at 33,870 and is close by a few points from the official station of 34,000, recording its highest level at 33,984.

Technically, we are positive in our trading depending on the continuation of the RSI’s defence of the bullish direction and the positioning of the stochastic around the overbought areas.

From here, with daily trading remaining above the support level of 33,775, the bullish bias is most likely during today’s session, knowing that the price’s consolidation above 34,000 is a motivating factor that increases and accelerates the strength of the bullish bias to waiting for 34,075 and 34,180, respectively.

A decline below 33,775 puts the index under negative pressure to retest 33,490.

Note: Today, markets are awaiting US inflation (consumer price index) data, which may lead to price volatility.

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: 33775	R1: 34075
S2: 33580	R2: 34180
S3: 33470	R3: 34375