Dow Jones Touches Goals And Eyes on Biden Speech

The Dow Jones Industrial Average succeeded in achieving the positive outlook, as we expected, touching the first target to be achieved yesterday, located at 30,970, to record a high of 30,980.

On the technical side, with stochastic remaining close to overbought areas, in addition to the RSI indicator continuing to defend the upside.

This encourages us to keep our positive outlook towards the second target 30,940 and then 30,980, knowing that the confirmation of the recent breach accelerates and confirms the strength of the bullish trend, opening the way towards 31,070.

Trading again below 30,720 is able to completely negate the bullish scenario, and we may witness strong and rapid negative movements targeting 30,620 and then 30,520.

Note: The risk level is high and all scenarios are on the table.

Note: The speech of US President-elect “Joe Biden” is due today and that may have a significant impact on the market movement.

S1: 30715	R1: 30940
S2: 30620	R2: 31070
S3: 30490	R3: 31160