Current price: 53430
Key point: 53345
Our preferred strategy: Buy positions above 53345 with a first target of 53750 and then a second target of 54000
Alternative scenario: Stop loss and trend reversal upon breaking the 53300 level, targeting levels of 53135
Technical commentary
The Dow Jones index is holding above the pivotal support levels of 43345-53300 and above the 200 moving average on the four-hour timeframe. If it breaks through the resistance level of 53500, it is expected to head towards the levels of 53750 and then the levels of 54000.
