Noor Trends News, Technical Analysis, Educational Tools and Recommendations
The Dow Jones Industrial Average exhibited an upward trend in the previous trading session, benefitting from stability above the support level of 34470.
From a technical perspective today, a positive but cautious outlook is favored. Positive signals from the Relative Strength Index on short time intervals, coupled with the index’s stability above 37770, contribute to this assessment.
In this context, the upward tendency is deemed preferable, with initial targets set at 34110 and 38140. A breach of 34180 would further strengthen the upward momentum, potentially opening the way for a visit to 38300, as long as trading remains stable above 37760.
It’s important to note that a breach below 37760 would prompt an immediate halt to the proposed bullish scenario, potentially leading the index into a bearish trend with a target of 37500.
Investors are cautioned about the high level of risk, particularly in light of ongoing geopolitical tensions, which may contribute to increased price volatility. Traders are advised to exercise caution and closely monitor market developments.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
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