Dow Jones touches the target and continues the temporary rise 20/9/2022

The Dow Jones Industrial Average succeeded in achieving the idea of ​​ascending referred to during the previous analysis, heading towards touching the required target at the price of 31,010, recording its highest level at 31,237.

On the technical side today, and with a careful look at the 60-minute chart, we find the simple moving averages returned to hold the price from below, accompanied by positive signals from the RSI and its stability above the 50 mid-line.

Therefore, we may witness a bullish bias in the coming hours, but cautiously, targeting 31,370, a first target, taking into consideration that the breach of the mentioned level may extend the intraday gains of the index, so we are waiting for touching 31,410 and 31,470 as long as the price is stable above the 30,800 support level.

Note: the level of risk is high and may not be commensurate with the expected return.

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: 30760	R1: 31410
S2: 30350	R2: 31650
S3: 30110	R3: 32065