Current price: 50,000
Key point: 49900
Our preferred strategy: Buy positions above 49900 with a first target of 50250 and then a second target of 50500.
Alternative scenario: Stop loss and trend reversal upon breaking the 49600 level, targeting the 49250 level.
Technical commentary
With the Dow Jones index holding above the upward trend line from last month's low and breaking through the pivotal resistance level of 49900, the index is expected to continue its rise to the 50250 level and then the 50500 level.
