Dow Jones needs more momentum 12/10/2023

The Dow Jones Index achieved good gains on the Wall Street Stock Exchange during the previous trading session within the expected bullish context, recording its highest level of 34,079.

On the technical side today, we tend to be positive in our trading, but with great caution, relying on the positive motivation from the simple moving average and stimulated by the Relative Strength Index trying to obtain positive signals in short time frames.

From here, with trading remaining above 33,880, the upward bias is the most likely during today’s trading session, provided that confirmation of the breach of 34,100 facilitates the task required to visit 34,160 as a first target and then 34,260 as a next station, whose targets may later extend towards 34,350.

Below 33,880 can cancel the proposed scenario and lead the indicator to form a negative attack to visit 33,700.

Note: Today we are awaiting highly influential economic data issued by the American economy, the “Consumer Price Index,” and we may witness high volatility when the news is released.

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: 33880	R1: 34160
S2: 33700	R2: 34260
S3: 33600	R3: 34440