Dow Jones repeat chances of rising 13/12/2022

A significant rally for the Dow Jones Industrial Average on the New York Stock Exchange, achieving strong gains, to start attacking the pivotal resistance level at 34,000.

Technically, the index moved back above the 50-day simple moving average, in addition to the stochastic centering around the seven overbought areas, and this comes in conjunction with the positive signs of the relative strength index.

From here, with steady daily trading above 33,745, the bullish bias is more likely, provided that we witness a clear and strong breach of the 34,000 resistance level, in order to enhance the chances of rising towards 34,120 and 34,225, respectively.

Note: The risk level is high and careful consideration is required.

• The consumer price index from the United States of America is one of the most important measures of inflation and has an impact on the interest rate decision.

– Change in unemployment benefits from the UK, Bank of England Governor’s Speech.

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: 33495	R1: 34225
S2: 33030	R2: 34470
S3: 32770	R3: 34950