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The Dow Jones Industrial Average successfully reached the first target in the previous trading session at the price of 35510, attaining its highest point at 35545.
From a technical standpoint today, the simple moving averages persist in supporting the price from below and are fueled by positive signals from the 14-day momentum indicator, which continues to display optimistic indications.
Hence, the prevailing likelihood is an upward trend during the day, given that trading remains above 35370. The initial target is set at 35590, with the potential for further acceleration in the strength of the upward trend upon breaching this level. Additionally, the next awaited station is 35640.
A return to trading stability without the robust support at 35360 from below may delay the upward potential but does not eliminate it entirely. In such a case, a retest of 35230 could occur before renewed attempts to rise.
Warning: The level of risk is elevated amidst ongoing geopolitical tensions, leading to potential high 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.
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