Current price: 51885
Key point: 51800
Our preferred strategy: Buy positions above 51800 with a first target of 52250 and then a second target of 52570.
Alternative scenario: Stop loss and trend reversal upon breaking the 51680 level, targeting the 51350 level.
Technical commentary
The Dow Jones index reached the pivotal support level of 51800, coinciding with the 200-period moving average on the four-hour timeframe and the upward trend line from the current month's low. If the price forms a price action and establishes a higher high on the lower timeframes, it is expected to resume its upward movement to the 52250 level, and then, if it breaks above that level, it will target the 52570 level.
