Current price: 52460
Key point: 52380
Our preferred strategy: Buy positions above 52380 with a first target of 52700 and then a second target of 52935.
Alternative scenario: Stop loss and trend reversal upon breaking the 52280 level, targeting the 51815 level.
Technical commentary
The Dow Jones index reached the pivotal support level of 52380, which coincides with the upward trend line from the low of this month. It is expected that if a higher high is formed on the smaller timeframes, the price will head towards the 52700 levels, and then if it breaks through that level, it will reach the 52930 levels.
