FX.co ★ Trading Signal for Dow Jones #INDU for April 23 - 26, 2021: Strong Support 33,620

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