Dow Jones Surges with Impressive Gains 6/11/2023

The Dow Jones Industrial Average experienced a substantial surge, achieving remarkable gains on the Wall Street Stock Exchange, aligning with the anticipated positive market sentiment. The index reached our projected target at 34,160, peaking at 34,233, its highest level.

On the technical front, the prevailing trend continues to be upward, supported by positive signals from the simple moving averages guiding the price trajectory from below. Additionally, the relative strength index indicates clear positive momentum.

With intraday trading maintaining levels above 33,760, the bullish scenario remains prominent. A confirmed breach of 34230 is anticipated, targeting 34,480. Should this level be surpassed, it would enhance and expedite the strength of the upward trend, potentially reaching 34,800.

In contrast, if trading stabilizes below 33,760 and an hourly candle closes beneath it, the index could face negative pressure, possibly retesting 33,590.

Please note: The current market environment carries a high level of risk due to 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: 33590	R1: 34480
S2: 33030	R2: 34800
S3: 32705	R3: 35370