Current price: 51200
Key point: 50800
Our preferred strategy: Buy positions above 50800 with a first target of 51350 and then a second target of 51500.
Alternative scenario: Stop loss and trend reversal upon breaking the 50700 level, targeting the 50350 level.
Technical commentary
The Dow Jones index is moving in an upward direction above the 200-period moving average on the four-hour timeframe and holding above the support levels of 50725-50800. It is expected to reach the 51300 level, the historical high that was formed yesterday, and then if it breaks above it, it will head towards the 51500 level.
