Dow Jones repeats the chances of rising 14/10/2022

A noticeable rally for the Dow Jones Industrial Average in the New York Stock Exchange yesterday, recording strong gains, reaching 30,330, benefiting from stability above 29,960.

On the technical side, the trend tends to rise due to the indicator obtaining a positive momentum signal from the RSI on the 60-minute time frame, accompanied by the support of the simple moving average for the daily bullish curve.

We may witness a trading session in the positive areas, provided that the breach of 30,360 is confirmed, targeting 30,500 first target, and gains may extend later towards 30,680 as long as the index is stable above 29,960.

Sneaking below 29,960 puts the Dow Jones under strong negative pressure, with its initial target around 28,100.

Note:: The risk level is high.

Note: “US Retail Sales” is du and may witness price fluctuation.

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: 29195	R1: 30860
S2: 28100	R2: 31430
S3: 27540	R3: 32520