Dow Jones Settles Above Support

Positive trading dominated the movements of the Dow Jones, surpassing the second required target achieved last Friday at a price of 29,890, posting its highest level of 29,976.

On the technical side today, and despite the current slight bearish bias, we tend to be positive, depending on the RSI’s attempts to obtain bullish momentum on short time frames, in addition to stochastic concentrating around overbought areas.

Thus, with the intraday trading remaining above 29,550 / 29,530, the bullish bias is likely today, knowing that surpassing the resistance level of 29,710 facilitates the task required to visit 29,870 and then 29,970 respectively, and targets may extend later towards 30,100.

Activating the bullish scenario requires stability above 29530, and breaking it will nullify the activation of the suggested scenario, and we may witness a bearish slope targeting a re-test of 29400.

Warning: The risk level may be high today.

S1: 29530	R1: 29875
S2: 29395	R2: 30100
S3: 29170	R3: 30230