Current price: 49600
Key point: 49600
Our preferred strategy: Buy positions above 49600 with a first target of 50000 and then a second target of 50250.
Alternative scenario: Stop loss and trend reversal upon breaking the 49500 level, targeting the 49200 level.
Technical commentary
The Dow Jones Industrial Average is moving upwards, above the 200-period moving average on the four-hour timeframe, above the 49,000 support level, and above the upward trend line.
If the pivotal resistance level of 49700 is breached, the index will then head towards the 50000 level and subsequently the 50250 level.
