Dow Jones is trying to maintain positive stability 5/1/2023

The Dow Jones Industrial Average continues to attempt to maintain positive stability, to witness the current movements of the index stability above the support level of 33,030, to record its highest level during the previous session’s trading at 33,414.

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 favorable during today’s session, with trading steady above 33,030, targeting 33,420 as the first target, and breaching it may enhance the index’s gains, opening the door to 33,490. It should be noted that the price’s consolidation above 33,490 is a catalyst that enhances the chances of visiting 33,610.

The decline below 33,030 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: 33030	R1: 33420
S2: 32830	R2: 33610
S3: 32640	R3: 33810