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The Dow Jones Industrial Average continued its upward trajectory on Wall Street, setting new records around 43,437.
Today, the Stochastic indicator shows that the Dow is in overbought territory, which could lead to some sideways movements. However, the simple moving averages continue to support the daily upward trend, and the Relative Strength Index (RSI) remains bullish.
As long as daily trading remains stable above the 43,120 support level and, more critically, above 42,870, the upward trend is likely to continue. Breaching the 43,435 level could accelerate gains, pushing the index towards 43,570 and potentially beyond.
However, if the index falls below 43,120 and especially 42,870, temporary negative pressure could emerge, with the price targeting 42,670.
Warning: The risk level is high and may not be proportionate to the expected return, especially given ongoing geopolitical tensions, which could lead to unexpected market shifts.
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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