Dow Jones Takes Advantage of Support

The Dow Jones Industrial Average touched the official target station mentioned in the previous analysis, located at a price of 32,020, to record a low of 31,950.

Technically, the index found a solid support floor around the aforementioned level, to once again return to the upside rebound, stabilizing around 32,600. With a closer look at the 60-minute chart, we find the RSI indicator continues to obtain bullish momentum in support of the continuation of the rise, in addition to the return of the index’s stability above 32,300.

We may witness a bullish run in the coming hours, With the initial target is 32,700, then 32,820. Trading again below 32,270 leads the index to the downside path again with the goal of 32,170/32,165.

Note: The level of risk is high.

S1: 32165	R1: 32820
S2: 31730	R2: 33045
S3: 31510	R3: 33475