Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trading dominated the Dow Jones Industrial Average on Wall Street yesterday, achieving extended gains to 43,515.
On the technical side today, we find that the simple moving averages continue to carry the price from above, encouraging the index to achieve further gains. This coincides with the momentum indicators continuing to receive positive signals.
Therefore, with daily trading steady above the 43,360 support level, the uptrend remains the most favorable, targeting 43,610 as the first target. A break above it will increase and accelerate the strength of the uptrend towards 43,780.
A break below 43,360 postpones the chances of a rise, and we will witness a retest of 43,190 before attempting another rise.
Warning: Today we are awaiting highly influential economic data from the US economy, “Federal Reserve Chairman Jerome Powell’s testimony,” and we may witness high price volatility when the news is released.
Warning: High risk.
Warning: The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios are possible.
Disclaimer: Trading in CFDs carries inherent risks, and all scenarios are possible. This analysis is not investment advice but rather an interpretation of the current technical landscape for the Dow Jones Industrial Average.
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