Current price: 42000
Key point: 41600
Our preferred direction: Buy positions above 41600 levels with 42400 as a first target and then 42600 as a second target.
Alternative scenario: Stop loss and change the trend by breaking the 41600 level, targeting the 41400 levels.
Technical commentary
The Dow Jones index is moving in an upward direction on the four-hour frame from the bottom of last August and above the pivotal support levels 41400-41600 and above the 200 moving average.
As long as the price is above these levels, the index is expected to continue rising to reach its new record high, which it recently set at 42,600.
