Dow Jones continues to rebound upwards 25/3/2022

The Dow Jones Industrial Average in the New York Stock Exchange managed to obtain the bullish momentum as we expected during the previous session, relying on stability above the solid support floor 34,100, surpassing the required target of 34,650, recording the highest 34,690.

Technically, the index managed to achieve the corrective bullish bounce, and we notice the continuation of the positive motive from the 50-day moving average, which coincides with the stability of the RSI above the mid-line 50.

Therefore, the possibility of achieving more rise is still valid. We witness a clear and strong breach of the 34,700 level to target 34,820 initial stations, and its breach enhances the chances of the price heading towards 34,980.

The return of the stability of the daily trading below 34,370 will stop the bullish scenario and put the index under strong negative pressure, its target is around 34,075.

Note: The risk level is high.

Note: CFD trading involves high risk; all scenarios may occur.

S1: 34370	R1: 34820
S2: 34075	R2: 34980
S3: 33920	R3: 35270