Current price: 50900
Key point: 50700
Our preferred strategy: Buy positions above 50700 with a first target of 51000 and then a second target of 51300.
Alternative scenario: Stop loss and trend reversal upon breaking the 50560 level, targeting the 50315 level.
Technical commentary
The Dow Jones index is moving in an upward direction above the 200 moving average on the four-hour timeframe and has reached the pivotal support levels of 50560-50700 and has risen from there, so it is expected that the index will continue to rise to the levels of 51000 and then the levels of 51300.
