On Thursday, the Dow Jones Index gained 221 points in the global market. The recent crisis between U.S and China trade war seems to be off the table as Trump eases his stance on new Tariffs. Moreover, the FED has also indicated they are willing to keep the interest rate unchanged for the year 2020. Dow Jones Industrial Average bounced off from the support at $28045.14. The bulls are currently eyeing for the critical resistance at $28222.67.
A daily closing of the price above that level might push the DJI index towards the next resistance at $28400.0. From that level, the bears might try to push the price down and initiate bearish correction. However, a clear break of that resistance level might result in extending the rally.
On the downside, the DJI index needs to clear the support at $28045.14 to establish fresh selling pressure. Breaking below that level might push the Dow Jones Industrial Average towards the next critical support level at $27744.71. We might see some bullish bounce on that level, but breaking the $27744.71 might result in a sharp fall.