Current price: 48300
Key point: 48000
Our preferred strategy: Buy positions above 48,000 with a first target of 48,700 and then a second target of 49,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 47700 level, targeting the 47400 level.
Technical commentary
The Dow Jones index is still above the 200 moving average on the four-hour timeframe and above the support level of 48,000. It is expected that if it breaks through the resistance level of 48,300, the Dow will head towards the levels of 48,700 and then the levels of 49,000.
