Dow Jones touches the rising targets 17/5/2022

The Dow Jones Industrial Average jumped within the expected upward trend, touching the official target of the last analysis at 32,150, and recording a high of 32,450.

Technically, the RSI defends the temporary bullish trend, accompanied by the positive motive coming from the 50-day simple moving average, which carries the price from below and supports the daily bullish curve.

With the index building above the previously breached resistance and now turning it to the support level of 32,150, and most importantly 32,100, the bullish bias is the most preferred, targeting 32,340 first target, and its breach enhances the index’s gains towards 32,500.

Activating the suggested bullish scenario depends on the stability of daily trading above 32100, and breaking it renews the chances of a decline towards 31,920 initial targets.

Note: the level of risk may be high.

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: 31920	R1: 32500
S2: 31600	R2: 32770
S3: 31340	R3: 33090