Current price: 53070
Key point: 52850
Our preferred strategy: Buy positions above 52850 with a first target of 53400 and then a second target of 53800.
Alternative scenario: Stop loss and trend reversal upon breaking the 52650 level, targeting the 52450 level.
Technical commentary
The Dow Jones index managed to rise from the pivotal support levels of 52730-52850. If it breaks through the 200 moving average on the four-hour timeframe, the price will then head towards the 53400 levels, and then if it breaks through that, it will head towards the 53800 levels.
