Current price: 52900
Key point: 52850
Our preferred strategy: Buy positions above 52850 with a first target of 53000 and then a second target of 53355
Alternative scenario: Stop loss and trend reversal upon breaking the 52500 level, targeting the 52000 level.
Technical commentary
The Dow Jones index managed to hold above the 200-period moving average on the four-hour timeframe and break through the pivotal resistance level of 52850. The index is expected to rise to the 53000 level, and if it breaks through that level, it could reach 53335.
