Current price: 49440
Key point: 49300
Our preferred strategy: Buy positions above 49300 with a first target of 49840 and then a second target of 50500.
Alternative scenario: Stop loss and trend reversal upon breaking the 49200 level, targeting the 48800 level.
Technical commentary
The Dow Jones index is holding above an upward trend line, above the support level of 49300, and above the 200-period moving average on the four-hour timeframe. The index is expected to continue its upward movement to the 49840 level, and then, if it breaks through that level, to reach the 50500 level.
