Current price: 54000
Key point: 53745
Our preferred strategy: Buy positions above 53745 with a first target of 54200 and then a second target of 54700.
Alternative scenario: Stop loss and trend reversal upon breaking the 53600 level, targeting levels of 53335.
Technical commentary
The Dow Jones index is holding above the support level of 53745 and above the upward trend line from last month's low, suggesting a continued rise to 54200. A break above this level would then target the previous all-time high of 54700.
