The Dow Jones recoups losses as investors expect some leeway for President Biden’s fiscal plans.
The index has found support at 33700. There have been three consecutive tests at this level which is a sign that buyers remain in control of the price action. A rally back above 34150, the base of the latest sell-off could convince traders of the underlying strength.
A new high at 34400 would be the next target should momentum picks up. As the RSI ventures again into the overbought area, 33700 is a critical support in case of a pullback.
