Reducing riskiness works in favor of stock indices

7 Ara

In the recent four-hour chart of the Dow Jones Industrial Average (DJIA), the price is moving in a clear ascending channel. This movement shows that the market continues its upward trend.
Currently, the price of the Dow Jones is above the support level of $44,534. This support level is very important to continue the upward movement. If the price manages to maintain this level and continue to move above it, we can expect the price to increase and reach higher resistance levels.
As long as the price remains above the $44,534 support, the next resistance target will be $45,949. Technically, this resistance level is a key target for the continuation of the upward trend, and if the price reaches it and does not cross it, it can start a new wave of buying and increasing the price.
Also, considering the strength of the upward trend and the position of the price inside the channel, this resistance target is considered as a sign of market strength, and its achievement can be an important milestone in the next movement of the market.