Dow Jones Hit a Fresh High of $34,250 Price Area – Will Recover Further?


Dow Jones Industrial Average sustains its bullish momentum further towards $34,100 to $34,250 price area. Dow Jones hit a fresh high of $34,250 price area. Will DJI recover further higher in the coming days? What are the charts and technical indicators are saying? Read more to find further insights into today’s DJI Technical Analysis. 

April 26, 2021, | AtoZ Marketsthe Dow Jones Industrial Average added 0.67%, completed around 228 points higher, up by 0.7%, close to $34,043 price area, as indicated by initial figures, after rising in excess of 300 points at its session high. Dow Jones Industrial Average is currently trading around $34,040 price area after facing resistance around $34,100 to $34,250 price area. After bouncing from $32,000 to $32,200 support level, the bulls have regained momentum and strike higher towards $34,100 to $34,250 key level. As per the current price action, the dynamic level may carry the price as strong support on the intraday chart in the coming days.

Dow Jones Hit a Fresh High as the Investors Are Optimistic

Dow Jones is currently residing near $34,040 price area and trying to recover higher. However, the price had an impulsive daily bearish candle close after rejecting $34,100 to $34,250 price area last week.

Dow Jones Hit

Image: DJI 4 Hour Chart

According to the 4-hour chart, Dow Jones hit a record high and currently trading around $34,040 price area. As per the current scenario, if the price pushes upside and breaks above $34,100 to $34,250 price area, the bulls may sustain the bullish pressure towards $34,900 to $35,000 area in the days ahead.

Along with this, the dynamic level of 20 EMA is currently residing below the price. Along with the Kijun line and the Tenkan line. So, the dynamic level may hold the price as strong support. Besides, the Kijun line and the Tenkan line may work as a confluence of the dynamic level in the process.

DJI May Retrace Downside

According to the daily chart, Dow Jones hit a fresh high and currently trading around $34,040 price area. As per the current price action, if the price can have a daily bearish candle close below the dynamic level, the bears may regain momentum and push the price down towards $33,300 to $33,200 price area in the process. Alternatively, if the price push upside and breaks over $34,100 to $34,250 key area, the bulls may continue the bullish trend towards $34,900 to $35,000 price area in the coming days.

Dow Jones Hit

Image: DJI Daily Chart 

In addition, the dynamic level of 20 EMA is currently residing below the price. So, it may carry the price as strong support in the days ahead. Also, the Stochastic Oscillator lines are currently residing below the overbought level 80 after having a bearish crossover. It indicates that the bears may regain momentum for a while in the process.

To conclude, as the overall momentum is bullish, there is a high chance that DJI may continue the bullish trend further. An impulsive daily close is needed to identify the definite momentum in the coming days. 

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