US30 by ThinkMarkets — TradingView

After falling back from the 50150 resistance level, the Dow Jones US30 Index traded near the 49778 level today. The price continues to be above the moving average, and the RSI remains above the 50 level. If the support level is held, it will support the possibility of targeting 50554, while a breakthrough of 48931 may open the way to 48498.

Here are the details for current technical reading:
The index is currently trading around 49,778 points after a promising attempt to the upside, but collided with resistance near 50,150 points, causing the price to rebound to test the previous support area.

Moving Averages: The price is still above the moving averages so far, which indicates that there is positive control so far if the price remains or stabilizes above the support area.

Relative Strength Index (RSI): The indicator is holding steady above the 50 level, indicating that the short-term outlook is equally positive.

bullish scenario
Price stabilization and stabilization above the 49778 level could suggest targeting the all-time peak of 50554.

alternative
Stable below 49778. Below this level, the index may move into sideways trading.
If the decline accelerates and breaks and holds the 48931 level, it could open the door for further losses towards the 48498 area.

Monitoring level (critical level)
• Resistor: 50500
• Support: 49778 – 49518 – 48931
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