Technically, in its recent trade, the index was able to cross the simple moving average resistance of the previous 50-day period to break out of the downward pressure. The , Dow Jones Industrial Average continued to trade higher in recent days, rising 0.03% for the fourth day in a row. The , index added about 9.88 points to settle at 33,7 3.85 by the end of the session after a 0.31 percent gain on Tuesday. From the beginning of the year to this moment, the index rose by 1.80%. Advertisement image Take advantage of today’s market opportunities TRADE NOW Despite the recent rally in the index, this was not the case for the other major indices, which suffered slight losses for the second day in a row. Investors worried about the possibility of an economic downturn as high borrowing costs hampered the growth of more companies, while slowing sales forced layoffs. The US may be headed for a recession this year, but it’s hard to tell. Based on strong economic development at the end of 2022, GDP is likely to grow faster than usual for the second quarter in a row. The United States grows 2.8% year over year from October to December. GDP is generally the official measure of economic performance as investors eagerly await the release of fourth quarter GDP on Thursday morning. GDP also grew by 3.2% in the third quarter, recovering from two consecutive declines in the first half. Dow Jones Technical Analysis Technically, in its recent trade, the index was able to break through the simple moving average resistance during the previous 50-day period to exit the negative pressure. This happened considering that the index was trading in a corrective and bullish direction in the near term as shown in the (daily) periodic chart. We note that relative strengths have positive signals after reaching oversold areas. Therefore, our expectations point to a further rally in the index during the next trade to target the key resistance level of 3 ,281.36, as the index prepares to attack it. This positive scenario remains valid if the support level of 32,582.00 remains the same.