Dow Jones Industrial Average Index (1H) Analysis:
🔹 Trend: Price is moving in an ascending channel, indicating a short-term bullish trend.
🔹 Support Zone: Strong support identified between 44,476.4 – 44,610.9, previously a consolidation area.
🔹 EMA Strategy: Price is trading above the 70 EMA (44,465.4), supporting bullish momentum.
🔹 Breakout Confirmation: Price has broken above the mid-resistance level and is retesting the support zone—ideal for a buy entry on pullback.
🔹 Price Action: Bullish structure with higher highs and higher lows; momentum favors buyers.
🔹 Target: Next resistance / target at 45,301.5, offering a 1.55% potential upside.
🔹 Risk Management: Stop-loss just below the support zone (~44,470) to protect against a false breakout.
📈 Conclusion: Buy on retracement to support zone for a move toward 45,301.5 with bullish confirmation.
🔹 Trend: Price is moving in an ascending channel, indicating a short-term bullish trend.
🔹 Support Zone: Strong support identified between 44,476.4 – 44,610.9, previously a consolidation area.
🔹 EMA Strategy: Price is trading above the 70 EMA (44,465.4), supporting bullish momentum.
🔹 Breakout Confirmation: Price has broken above the mid-resistance level and is retesting the support zone—ideal for a buy entry on pullback.
🔹 Price Action: Bullish structure with higher highs and higher lows; momentum favors buyers.
🔹 Target: Next resistance / target at 45,301.5, offering a 1.55% potential upside.
🔹 Risk Management: Stop-loss just below the support zone (~44,470) to protect against a false breakout.
📈 Conclusion: Buy on retracement to support zone for a move toward 45,301.5 with bullish confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.