In the early American session, the Dow Jones, #INDU, is trading, above the 33,600 support, and below the 21 SMA as well as drawing a bearish channel.
Yesterday the Dow Jones #INDU fell due to reports that President Joe Biden would propose a tax hike on the wealthiest on capital gains of up to 43.4%.
The Dow Jones Industrial Average futures are up 0.17% this morning as investor sentiment remains positive and awaiting earnings results from some companies before the market close.
In the 1-hour chart, we can see that the #INDU is trading above the key level of 33,600 this has resulted in a good support that on previous occasions has given the Dow Jones a good technical rebound.
This level is the key that we must watch out for. If there is a rebound again, it will be a good opportunity to buy, if this level is broken, a technical rebound is expected at 33,400, which is the bottom of the bearish channel drawn from its maximum at 34,249
On the other hand, if there is a pullback to the SAM of 21, it will be a good opportunity to sell the Dow Jones again, with targets at 33,600 and 33,400.
The eagle indicator is showing a sign of a possible technical rebound as it is located in the oversold zone.
Support And Resistance Levels For April 23 - 26, 2021
Resistance (1) 33,891
Resistance (2) 33,964
Resistance (3) 34,216
Support (1) 33,611
Support (2) 33,531
Support (3) 33,350
