Dow Jones positivity needs confirmation 8/8/2023

The Dow Jones Industrial Average retested the support level published during the previous report at 35,310. It approached the second support 35,120, recording its lowest level at 35,170, forming an upward attack, surpassing the target 35,515, recording 35,585.

On the technical side today, our trading tends to be positive, relying on stochastic attempts to eliminate the current negativity and holding above the strong support level 35,250.

Therefore, the possibility of achieving more gains may be present and effective, provided that we witness a clear and strong breach of the resistance level of 35,580, and that is a catalyst that increases and accelerates the strength of the bullish trend, targeting 35,665 and 35,700 as initial targets that may extend later to visit 35,800.

A decline below 35,250 can thwart the suggested scenario, putting the index under negative pressure to retest 35,000 before attempting to rise again.

Note: the risk level may be 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: 35250	R1: 35665
S2: 35000	R2: 35840
S3: 34840	R3: 36080