Current price: 52000
Key point: 51700
Our preferred strategy: Buy positions above 51700 with a first target of 52130 and then a second target of 52280.
Alternative scenario: Stop loss and trend reversal upon breaking the 51535 level, targeting the 51280 level.
Technical commentary
The Dow Jones is holding above its 200-day moving average on the hourly timeframe and above the key support levels of 51745-51845, as well as above the upward trend line from the current month's low. The index is expected to continue its rise to levels of 52130 and then 52280.
