Dow Jones index rallied strongly to the upside to surpass 19810 barrier and settles above 19900, which brings back the bullish trend to dominate trades, and the index awaits to surpass 20000 barrier to confirm the continuation of rising on the longer term basis, as the next targets located at 20070 then 20200.
The exponential moving average 100 supports the expected rise, while breaking 19718 will put the index under the correctional bearish pressure that its first target located at 19500.
Support & Resistance:
Support 19845 19718 19670
Resistance 20000 20070 20200
Recommendation Dow Jones will be positive above 19845, targets at 19900 then 20000, risk limit below 19718.
Reverse scenario Dow Jones is negative below 19718, targets at 19600 then 19500, risk limit above 19845.
The exponential moving average 100 supports the expected rise, while breaking 19718 will put the index under the correctional bearish pressure that its first target located at 19500.
Support & Resistance:
Support 19845 19718 19670
Resistance 20000 20070 20200
Recommendation Dow Jones will be positive above 19845, targets at 19900 then 20000, risk limit below 19718.
Reverse scenario Dow Jones is negative below 19718, targets at 19600 then 19500, risk limit above 19845.