Dow Jones is making significant gains 9/9/2022

Positive trading dominated the movements of the Dow Jones Industrial Average on Wall Street yesterday, within the expected bullish track, touching the official target required to be achieved at 31,820, recording its highest level around 31,865.

On the technical side, today the trend is still bullish, with the RSI continuing to defend the bullish trend and its stability above the mid-line 50, in addition to stochastic stationing around the overbought areas.

This encourages us to maintain our positive expectations, continuing towards the second target of the previous report at 32,050/32,030, noting that the breach of the mentioned level increases the strength of the daily bullish trend, and we await touching 32,240.

The breach below the strong support floor 31,480 postpones the chances of rising and leads the index to retest 31,300 before attempts to rise again.

Note: the risks are 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: 31480	R1: 32050
S2: 31110	R2: 32245
S3: 30920	R3: 32620