Dow Jones repeats bullish opportunities 23/4/2024

Positive trading resumed control over the movements of the Dow Jones Industrial Average on the New York Stock Exchange, surpassing the upward targets outlined in the previous technical report at 38440 and 38525. The index achieved its highest level at 38681.

In today’s technical analysis, we maintain a positive outlook while exercising caution. The Relative Strength Index shows attempts to generate positive signals above the 50 midline, coupled with positive momentum from the 50-day simple moving average.

As long as daily trading remains above 38225, there is a potential for further upward momentum, with a target set at 38695. Breaking this level could serve as a motivating factor, increasing the likelihood of reaching 38950.

Conversely, a return to daily trading stability below 38225 would halt the upward momentum, placing the index under significant negative pressure, with a target at 37980.

Risk Advisory: Investors should be mindful of the elevated risk level, particularly amidst ongoing geopolitical tensions, which may result in heightened price volatility.

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: 38225	R1: 38695
S2: 37980	R2: 38920
S3: 37750	R3: 39170