Noor Trends News, Technical Analysis, Educational Tools and Recommendations
As anticipated in the previous report, the Dow Jones Industrial Average witnessed a notable decline, reaching the official target of 42745 and recording a low of 42723.
Technical Outlook:
Today, the bearish bias persists, supported by negative pressure from the 50-day simple moving average and bearish signals from the Relative Strength Index (RSI) on short-term time frames.
As long as intraday trading remains below the resistance level of 43060, the downward trend is expected to continue. The first target is set at 42785, and a break below this level could accelerate losses toward the next target at 42560.
Alternative Scenario:
Conversely, if the index manages to rise above and confirm a breach of 43080, the bearish scenario would be invalidated. In such a case, the index is likely to recover, aiming for a move toward 43165.
Risk Considerations:
Given the heightened geopolitical uncertainties, volatility remains elevated, and unexpected scenarios may emerge. Traders are advised to exercise caution.
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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