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The Dow Jones Industrial Average managed to touch the first target to be achieved during the previous session, at 35,370, and is close by a few points from the second target 35,460, to be satisfied with recording its highest level 34,442.
On the technical side, today, we tend to the positive side, but cautiously, relying on stochastic’s positioning around the overbought areas, in addition to the stability of trading above the support level 35,200.
Therefore, the bullish bias is likely today, targeting 35,440/35,450, knowing that its breach extends the index’s gains so that the roads are directly open towards 35,550, and gains may extend later towards 35,600.
Breaking 35,200 puts the index price under strong negative pressure; its initial target is 35,120, while its official target is around 35,020. Note: the risk level is high.
| S1: 35220 | R1: 35445 |
| S2: 35120 | R2: 35550 |
| S3: 35020 | R3: 35650 |
