Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading returned to dominate the movements of the Dow Jones Industrial Average on Wall Street, benefiting from building on 32,940 support level.
On the technical side today, and with a closer look at the 60-minute chart, we find that the RSI continues to defend the positive moves.
From here, and with intraday trading remaining above 33,480, the bullish bias is likely today, targeting 34,150 first target, taking into consideration that the confirmation of breaching the mentioned level extends the index’s gains so that the path is directly open towards 34,350.
From below, breaking 33,480 will negate the bullish scenario completely, and lead the indicator to a bearish trend, with its initial target of 33,210. Note: the risks are high.
| S1: 33210 | R1: 34150 |
| S2: 32595 | R2: 34475 |
| S3: 32270 | R3: 35090 |
