Current price: 52270
Key point: 51970
Our preferred strategy: Buy positions above 51970 with a first target of 52650 and then a second target of 52950.
Alternative scenario: Stop loss and trend reversal upon breaking the 51900 level, targeting the 51560 level.
Technical commentary
The Dow Jones index is moving sideways below the 200-period moving average on the hourly timeframe, between support levels of 51950 and resistance levels of 52650-52730.
The price has indeed risen from the support levels, with its next target being the 52650-52730 levels. If it breaks above these levels, it will then head towards the 52950 levels.
