Dow gearing up for a breakout higher?Dow Jones Industrial Average IndexTVC:DJIFPMarketsWhile it remains a fluid situation, markets continue to cheer developments between the US and Iran, which led to a strong bid in the Dow yesterday. In a previous report, I highlighted that the market average engulfed the neckline (measured from the high of 46,712) of a daily inverted head-and-shoulders pattern that formed around the lows of 45,000 in late March. As shown in the chart, price action is now within touching distance of the pattern’s profit objective at 48,540. Taking out 48,540 this week will likely open the door to a run to daily resistance at 49,632, which sits within a whisker of the all-time high of 50,512. Written by FP Markets Chief Market Analyst Aaron Hill