Current price: 52590
Key point: 52400
Our preferred strategy: Buy positions above 52400 with a first target of 52760 and then a second target of 53070.
Alternative scenario: Stop loss and trend reversal upon breaking the 52200 level, targeting the 52040 level.
Technical commentary
The Dow is moving above an upward trend line from last month's low and above the 200-period moving average on the four-hour timeframe and above the support level of 52400. If it breaks through the pivotal resistance level of 52615, the index will then head towards the levels of 52760 and then the levels of 53070.
