Current price: 34578
Key point: 34388
Our preferred direction: buy positions at the highest levels of 34388, targeting 34900 as the first target, then 35400 as the second target.
Alternative scenario: Stop loss and change the trend by breaking the 34388 level while targeting the 34000 levels
Technical commentary
The Dow is moving in an upward direction on the daily frame from the bottom of last March, and is currently stable at the highest support levels 34245-34388.
The price is currently moving in a corrective movement from the resistance levels 35680 and below the falling trend line from last month’s peak.
It is expected that the decline will continue to the mentioned support levels that correspond to the lower border of the trend line, and then rise to the levels 34922-35050.
